Food helps drive Greene King profits skyward

By Carina Perkins

- Last updated on GMT

Related tags: Greene king, Executive officer, Chief executive officer, Restaurant

Food sales helped drive growth in Greene King's Retail arm
Food sales helped drive growth in Greene King's Retail arm
Pub operator Greene King has reported a 9.4 per cent increase in pre-tax profits for the 53 weeks to 4 May, with revenue up 8.9 per cent.

Like-for-like sales in its managed Retail arm, which includes its Hungry Horse, Old English inns, Eating Inn and Loch Fyne Seafood & Grill brands, rose 4.1 per cent.

This was primarily driven by a 5 per cent rise in like-for-like food sales, with food now accounting for 41 per cent of total retail sales. Like-for-like drink and room sales rose by 3.2 per cent and 6.8 per cent respectively.

Greene King said that increasing its share of the £48bn eating out market was central to its strategy going forward, and it would look to broaden its customer appeal through categories such as food, wine and coffee.

“There are now clear signs that both the UK economic outlook and consumer confidence are improving, although consumers continue to spend cautiously,” said Greene King chief executive officer, Rooney Anand.

“While continuing to provide customers with great value for money, excellent service and industry-leading quality, we see the pace of change in how people eat and drink out of home quickening and so we are shaping the business for the future to benefit from the opportunities these changes will bring.” 

Related topics: Pub & Bar, Business & Legislation

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