Greene King optimistic despite flat sales
Hospitality operator Greene King has announced a small increase in sales and cautious-but-optimistic outlook for the business overall.
The company said its like-for-like sales in retail were up 0.4% in the 18 weeks to 7 September 2014, but admitted that the good summer last year had not been matched by this year's disappointing World Cup returns. Customers were still being cautious and spending carefully despite the growing recovery of the UK economy, it added.
The company also said that it has seen particularly strong trading at its London pub sites under the Metropolitan brand, as well as its carvery restaurant group, Farmhouse Inns. It also noted that the overall Greene King retail estate had been boosted by five more openings to a total of 1,037 sites.
The company is expected to confirm the statement at its Annual General Meeting today.
Pub operator and cask brewer Greene King operates almost 2,000 pubs, restaurant and hotels across England, Wales and Scotland, of which just over 1,000 are retail pubs, restaurants and hotels. Its other brands include Hungry Horse, and Loch Fyne Restaurants, while its core ale brands also feature Abbot Ale, Greene King IPA and Belhaven Best.
