FDBusiness.com

Greene King Delivers Record Results

 Breaking News
  • Carlsberg Group Increases Ownership of Super Bock Group in Portugal The Carlsberg Group has acquired 28.5% of the shares in Viacerm which is the controlling shareholder of Super Bock Group, holding 56% of the shares. The other 44% of the shares in Super Bock Group are owned by Carlsberg. Super Bock Group is the market leader in Portugal, holding a market share of 47% with a [...]...
  • UK Restaurant Numbers Fall 2% in a Year The number of restaurants in Britain slipped by 2.0% over the year to September 2018, the new edition of the Market Growth Monitor from CGA and AlixPartners reveals – equivalent to more than 10 closures a week. The exclusive research shows that Britain had a total of 26,892 restaurants at September. The net fall of 539 [...]...
  • ABP’s Olleco on Shortlist For Davos Sustainability Award ABP Food Group’s renewable division, Olleco, has been shortlisted for a prestigious ‘Circular’ sustainability award for its development of a circular economy model with McDonald’s and Arla Foods in the UK. The awards are an initiative of the World Economic Forum and the Forum of Young Global Leaders and winners will be announced at the [...]...
  • Arla Foods Acquires Middle East and Africa Kraft Branded Cheese Business From Mondeléz International European dairy co-operative Arla Foods has reached an agreement with US-based international confectionery, food, and beverage company Mondeléz International to acquire its processed cheese business in the Middle East region, which is currently licensed under the Kraft brand. The acquisition also gives Arla full ownership of a state-of-the-art cheese production site in Bahrain, which provides [...]...
  • UK Grocery Market Growth Cools as Christmas Nears Despite retailers and shoppers getting into the festive spirit, the latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 2 December 2018, show the sector is now growing at 2.0% – its slowest rate since March 2017. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, comments: “Consumers are benefiting [...]...

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
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements