Pub company Greene King celebrates productive year

Pub Partners, the leased and tenanted division of Greene King, outperformed its managed counterpart last year.

In a pre-close statement, Greene King said total like-for-like sales had increased in the 51 weeks to 23 April by 2.1% year-on-year at Pub Partners.

At the managed Pub Company division, total like-for-like sales increased 1.8% during the period. 

Total beer volumes were also up by 7%, with Old Speckled Hen ale the star performer.

Greene King said trading in Scotland – where it now owns Belhaven – had been “pleasing”, although it warned that it was still “early days”.

Rooney Anand, Greene King chief executive, said: “Trading across the group has been positive and we remain on course to achieve a successful outcome to the year.”

During the year the company consolidated its finances, issuing £600m of new bonds while paying off another to make the cost of borrowing for new acquisitions cheaper.

Greene King simplifies debt by paying off bond >>

Greene King in bid for Belhaven >> 

Greene King buys Ridely’s >> 

By Chris Druce

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