Strong food sales help deliver record profit at Greene King

By Emma Eversham

- Last updated on GMT

Related tags: Greene king, Inn, Public house

Greene King chief executive Rooney Anand
Greene King chief executive Rooney Anand
Strong food sales at pub operator and brewer Greene King helped deliver the group record sales and profit last year.

In the 52 weeks to 1 May 2011 revenue went up 6 per cent to £1.04bn while pre-tax profit was up 14 per cent to £140m. Like for like sales went up 8 per cent in food while they were up 5 per cent overall.

Food-related sales now represent 60 per cent of sales across the Greene King estate, which it said was helped by the acquisition of North and Midlands-based pub group Cloverleaf in January and London-based pub group RealPubs in April.

Of the 2,429 pubs and restaurants Greene King owns, 915 are food-led with the Hungry Horse, Old English Inns, Eating Inn and Loch Fyne its leading retail brands. The remaining 1,514 pubs are tenanted or leased.

Successful year

Greene King chief executive Rooney Anand said: “This has been a very successful year for Greene King, delivering revenue of over £1bn for the first time, record profits and a 7.4 per cent dividend increase. Our retail business continues to spearhead our growth, as we increase our share of the eating out market. Our retail expansion strategy is on track with our most recent acquisitions, Cloverleaf and Realpubs, trading well.

"Our teams across the business have delivered these results by giving our customers compelling value, service and quality and going forward, there are numerous opportunities for further growth."

New look

The company has also revealed a new look for its brand. A new logo, in green, stone and bronze, uses the symbol of St Edmunds crown and arrows to underline Greene King's heritage as pub operators and brewers for the past 200 years.

The new branding, including pub signage, will be rolled out across the Greene King branded estate over the next year and will be evident on its new-look website.

Related topics: Business, Restaurants, Pubs & Bars

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