Greene King profits up thanks to rising food sales
A strong uplift in like-for-like food sales have boosted pre-tax profits at Greene King by 17.1% to £73.1m for the 24 weeks to October 2010.
The Suffolk-based brewer and pub company said like-for-like food sales were up 8.5%, with retail like-for-like sales growth of 3.8% following 4.6% growth in the previous year. Turnover hit £484.1m, up 4.2%.
Its tenanted and leased division, Pub Partners, saw like-for-like growth of 0.4% over the period, while its Scottish operation, Belhaven, registered a record performance with profit up 10.1%.
Rooney Anand, chief exectuive of the company, which has 2,452 pubs and restautants across the country said: "We have performed well throughout the downturn and our strategy for growth, via expansion of our Retail estate, is making good progress.
"Current trading remains strong, with Christmas bookings comfortably ahead of last year. Although we expect more challenging conditions in 2011, we are confident that we will continue to trade well and deliver strong financial results."
Meanwhile, the company announced that Justin Adams, the managing director of its brewing company since 2005 would be leaving the company at the end of January.
By Neil Gerrard
E-mail your comments to Neil Gerrard here.
Caterersearch.com jobs
Looking for a new job? Find your next restaurant job here with Caterersearch.com jobs
|
