Greene King like-for-like sales grow following Spirit deal

Pub and restaurant firm Greene King today revealed 1.3% growth in its like-for-like sales for the first 18 weeks of its financial year.

Growth in the past 10 weeks up to 6 September 2015 was stronger, at 1.9%.

All of the company's major sales categories were in like-for-like growth, it said.

The business, which employs 42,000 people across Greene King and the recently acquired Spirit pub company, also saw growth in Scotland where like-for-like sales were up 1.8% in the first 18 weeks and up 2.4% in the last 10 weeks.

Meanwhile, like-for-like sales in the Spirit managed estate were up by 0.8% over the last 18 weeks.

Like-for-like net income in Greene King's Pub Partners business was up by 2% after 16 weeks, while it was up 1.1% in the Spirit leased estate.

The company's own-brewed beer volumes rose 1.7% over the period, with "good growth" from Old Speckled Hen, Greene King IPA, and Abbot Ale.

Greene King added that the process of integrating Spirit was "going well" and by 28 August it had exchanged contracts on all of the 16 pubs it was required to sell by the Competition and Markets Authority.

Greene King operates around 3,100 pubs, restaurants and hotels in England, Wales and Scotland following the acquisition of Spirit. Brands it operates include Hungry Horse, Fayre & Square, Old English Inns, Chef & Brewer and Loch Fyne Seafood & Grill.

Greene King completes £774m Spirit Pub Company acquisition >>

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