People are still devoted to their local pub

28th January 2009, 12:24pm

Greene King has today said that despite pub sales down 5.3% people are still drinking in their local pubs.

Christmas trading "generally improved" and the pub and brewing group added that like-for-like sales over the last eight weeks are up by 2.4%: "Key drivers of our improved LFL sales performance include strong Christmas bookings, further improvement in Hungry Horse and targeted investment in sports-led satellite TV, particularly within local pubs."

Greene King said it has sold 90 properties during the 38 weeks to the 25th January 2009 raising around £35 million for the business.

The company added that there would be further disposals made in 2009.

Its outlook is cautious but Greene King said that people are still drinking: "The anticipated post-New Year slowdown has not, as yet, taken place, but we remain very cautious as to trading prospects for 2009, and we anticipate that the outlook for the rest of the year will remain very challenging. Overall, our trading and financial position remains in line with our expectations."

Related Articles:

• 02 Nov 2009 - Pub landlords diversify by offering post office and foreign exchange services
• 09 Jun 2009 - Greene King expands portfolio with 11 Punch pubs
• 03 Mar 2009 - Tackling Scotland's alcohol misuse problems

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