FDBusiness.com

Greene King Delivers Record Results

 Breaking News
  • Nestlé to Sell Skin Health Business For €9 Billion Nestlé has entered into exclusive negotiations with a consortium led by EQT and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for the sale of Nestlé Skin Health for a value of SFr10.2 billion (€9.0 billion). Nestlé Skin Health had net sales of SFr2.8 billion in 2018. The proposed transaction will be [...]...
  • Bakkavor Group Expands in UK Desserts Category Bakkavor Group, the leading provider of fresh prepared food in the UK, is acquiring Blueberry Foods, a desserts business owned by Samworth Brothers for an undisclosed price. Blueberry operates from a custom-built facility in Leicestershire with approximately 420 employees and produces a range of desserts for the UK’s leading grocery retailers. A capital investment of more [...]...
  • Waitrose Plans to Treble the Size of Online Operations Waitrose & Partners has announces plans to treble the size of its successful online grocery operation to a £1 billion business over the next three years, working in partnership with Today Development Partners (TDP) . The move with TDP, which is headed by Jonathan Faiman and Mo Gawdat, will accelerate the development of Waitrose.com through [...]...
  • Müller Revolutionises the UK’s Favourite Yogurt Brands Müller is set to revolutionise the UK yogurt category with new and improved recipes for the nation’s two favourite yogurt brands, Müllerlight and Müller Corner[1]. The dairy company has also revealed details of its biggest ever marketing campaign. As the business continues to strengthen its core brands, and inspire people to live healthier and happier lifestyles, [...]...
  • Guardians of Grub Crusade to Beat Food Waste A bold new industry campaign has been launched to tackle nearly £3 billion worth of food that is wasted every year across the entire UK hospitality and food service sector, of which 75% could have been eaten. The Guardians of Grub campaign was developed by WRAP as part of its ambitious work to cut food [...]...

Greene King Delivers Record Results

Greene King Delivers Record Results
June 30
10:59 2017

Greene King, the UK’s leading pub company and brewer, has delivered another set of record results for the 52 weeks to 30 April 2017. Total revenue grew 6.9% to a record high of £2.22 billion, driven by another good performance from the underlying business and by acquisitions, in comparison with the previous year. EBITDA surpassed £500 million for the first time in the company’s history, reaching £524.1 million, up 5.5%. Operating profit before exceptional and non-underlying items rose by 4.9% to £411.5 million.

Rooney Anand, chief executive of Greene King.

Greene King operates 3,000 pubs, restaurants and hotels in towns, villages and city-centre high streets across England, Wales and Scotland. The group has two breweries – Westgate Brewery at Bury St Edmunds in England and Belhaven Brewery at Dunbar in Scotland. Greene King has been the leading cask ale brewer in the UK for many years. Its portfolio includes popular brands such as Greene King IPA, Old Speckled Hen, Abbot Ale Ruddles, St Edmunds and Olde Trip.

“Greene King has delivered another set of record results, generating full year EBITDA of over £500 million for the first time,” says Rooney Anand, chief executive of Greene King. “Our performance has been achieved against a demanding backdrop of increased costs, weaker consumer confidence and increasing competition. While I expect these challenges to intensify over the next few years, Greene King has a very strong track record of delivery in tough market conditions.”

Greene King’s Brewing & Brands business achieved revenue of £200.3 million in the year ended 30 April 2017, up 1.7%, but operating profit was down 5.2% to £31.0 million. Factors impacting profit conversion included increased cost of goods sold and investment in marketing and price, mainly in the second half of the year.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
  • June 25, 2019BevExpo 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements