We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Greene King Plc | LSE:GNK | London | Ordinary Share | GB00B0HZP136 | ORD 12.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 849.20 | 849.00 | 849.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGNK
RNS Number : 0495A
Greene King PLC
07 September 2018
LEI: 213800R9N5F2WRMGTR50
7th September 2018
Q1 AND AGM TRADING UPDATE
Trading statement for the 18 weeks to 2(nd) September 2018
At its AGM today, Greene King will make the following trading statement for the 18 weeks to 2(nd) September 2018.
The positive momentum in Pub Company continued through the summer with like-for-like (LFL) sales up 2.8% for the first 18 weeks of the year, ahead of the market(1) which was up 1.2%. Growth over the last 10 weeks was 3.2%. This strong performance was underpinned by the ongoing benefits from our sales driving investment to further improve our Value, Service and Quality, and boosted by the weather and a successful World Cup.
Our Greene King branded local pubs traded particularly well with LFL sales of +5.5%, driven by very strong LFL drink growth. 3.7m pints of beer were sold in total during England's seven World Cup matches and LFL sales on the day of the semi-final were up 61%.
LFL net profit in Pub Partners was -0.4% after 16 weeks, impacted by the timing of higher overhead costs which we expect to balance out over the year. Total beer volumes in Brewing & Brands were up 4.0% and own-brewed volumes were up 0.3%.
Our cost mitigation programme to help offset gross cost inflation of c.GBP45-50m is on track and we are making good progress with our refinancing programme, which will reduce the cost of debt and increase flexibility.
We remain on course to dispose of 100-110 pubs this year and expect to open around nine new pubs.
We continue to focus on profitably driving top line growth, developing a more streamlined and efficient organisation and further strengthening our capital structure to deliver long-term value creation for our shareholders.
1. Coffer Peach Business Tracker for the comparative 18 weeks
FOR FURTHER INFORMATION
Greene King Rooney Anand, chief executive Tel: 01284 763222 plc officer Richard Smothers, chief financial officer Finsbury Alastair Hetherington Tel: 0207 251 3801 Philip Walters
NOTES FOR EDITORS
-- Greene King was founded in 1799 and is headquartered in Bury St. Edmunds, Suffolk. It currently employs around 39,000 people across its main trading businesses; Pub Company, Pub Partners and Brewing & Brands.
-- At the end of the financial year, Greene King operated 2,855 pubs, restaurants and hotels across England, Wales and Scotland, of which 1,745 were retail pubs, restaurants and hotels, and 1,110 were tenanted, leased and franchised pubs. Its leading retail brands are Greene King Local Pubs, Chef & Brewer, Farmhouse Inns and Hungry Horse.
-- Greene King also brews quality ale brands from its Bury St. Edmunds and Dunbar breweries. Its industry-leading portfolio includes Greene King IPA, Old Speckled Hen, Abbot Ale and Belhaven Best.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTEAKNKEEFPEFF
(END) Dow Jones Newswires
September 07, 2018 02:00 ET (06:00 GMT)
1 Year Greene King Chart |
1 Month Greene King Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions