Greene King revenue and profits a heady brew
Suffolk pub brewer and retailer Greene King has hoisted revenue and profits in a strong 24 weeks to October 18.
Group revenue was up 49.2 per cent to £917.7m and PBT 46.9 per cent to £121.4m.
The company reported revenue and profit growth across all divisions with adjusted earnings per share up 15.4 per cent.
The dividend per share was increased by 6.3 per cent, maintaining a long-term growth record. The integration of the acquired Spirit Pub Company is said to be ahead of plan.
Chief executive Rooney Anand (pictured above) said: “It has been a strong first half, with the Greene King business strengthening and significant progress made in the Spirit integration. “Like-for-like sales growth in Greene King Retail improved during the half and both Pub Partners and Brewing & Brands delivered profit growth and margin expansion.
“We completed the acquisition of Spirit Pub Company and, by combining the best of both companies, made good progress in capturing value from the acquisition and creating the UK's leading pub hospitality company.”
The UK share price shot up more than 10 per cent – by 86.50p to 938p – on the results announcement.