Greene King PLC Trading statement for the 18 weeks to 04 Sept 16 (3746J)
09 September 2016 - 4:00PM
UK Regulatory
TIDMGNK
RNS Number : 3746J
Greene King PLC
09 September 2016
Press release 09 September 2016
Trading and integration progress
Trading statement for the 18 weeks to 04 September 2016
At its AGM today, Greene King will make the following trading
statement for the 18 weeks to 04 September 2016.
Current trading & outlook
In the first 18 weeks of the year, Pub Company delivered
like-for-like (LFL) sales growth of 1.7% including a strong start
to the year as customers enjoyed the European Football
Championships and better weather. Growth was driven by our Local
Pubs estate.
In Pub Partners, LFL net income was up 4.5% after 16 weeks,
while in Brewing & Brands, own-brewed volume declined 0.5% over
the same period.
We continued to make strong progress with the integration of
Spirit including the delivery of further planned synergies and over
a quarter of our managed pubs now operating with the 'best of both'
IT system. We also completed 41 brand conversions in the
year-to-date with encouraging sales uplifts.
As expected, uncertainty surrounding the UK's future withdrawal
from the European Union has translated into a softening of some
economic indicators and a reduction in consumer confidence. While
the broader implications remain unclear, a number of recent
industry surveys have flagged risks to leisure spend and we are
alert to a potentially tougher trading environment ahead.
With this in mind, we will continue to focus on delivering great
value, service and quality to our customers. Greene King has a
track record of success in challenging trading environments and our
strong balance sheet and enhanced opportunities following the
Spirit acquisition will help limit any potential impact from
prolonged uncertainty in the environment.
We remain confident of delivering another year of strategic and
financial progress.
For further information:
Greene King plc Rooney Anand, chief executive Tel: 01284 763222
officer
Kirk Davis, chief financial officer
Finsbury James Leviton Tel: 0207 251 3801
Philip Walters
Information on Greene King plc is available at
www.greeneking.co.uk; follow us on Twitter: @greeneking
Financial calendar
The group will publish its interim results on 30 November
2016
"Time Well Spent"
Notes for editors
-- Greene King was founded in 1799 and is headquartered in Bury St. Edmunds, Suffolk. It currently employs around
44,000 people across its main trading businesses; Pub Company, Pub Partners and Brewing & Brands
-- At the year end, it operated 3,035 pubs, restaurants and hotels across England, Wales and Scotland, of which
1,823 were retail pubs, restaurants and hotels, and 1,212 were tenanted, leased and franchised pubs. Its leading
retail brands and formats include Hungry Horse, Farmhouse Inns, Chef & Brewer, Flaming Grill and the Greene King
Local Pubs estate. 83% of the estate is either freehold or long leasehold
-- Greene King also brews quality ale brands from its Bury St. Edmunds and Dunbar breweries, and is the UK's leading
cask ale brewer and premium ale brewer. Its industry leading portfolio includes Greene King IPA, Old Speckled Hen,
Abbot Ale and Belhaven Best
This information is provided by RNS
The company news service from the London Stock Exchange
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