FDBusiness.com

Greene King Delivers Record Results

 Breaking News
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...
  • UK Spirits Boom Shows No Signs of Slowing Spirits producers across the UK are gearing up to dramatically increase production over the next 12 months amid signs that the boom in UK spirits is set to continue, according to research conducted by a campaigning alliance that has just been launched. A poll by Survation for the newly-established UK Spirits Alliance has found that 65 [...]...
  • Mondelēz International Completes Acquisition of Majority Interest in Perfect Snacks Mondelēz International has completed its acquisition of a majority interest in Perfect Snacks®, a pioneer in the fast-growing refrigerated nutrition bars segment with a range of offerings including Perfect Bar, The Original Refrigerated Protein Bar™, and Perfect Snacks’ other lines of organic, non-GMO, nut-butter based protein bars and bites. “The Perfect Snacks majority acquisition further expands [...]...
  • Interim Revenue and Profits Up at Nichols Nichols, the UK-based soft drinks group, has reported a 10.2% increase in revenue to £71.6 million and a 2.0% rise in profit before tax to £13.3 million for the half year ended 30 June 2019, compared to the corresponding period in the previous year. EBITDA increased by 9.7% to £15.3 million. To support the trading [...]...
  • First Milk Announces Proposed Changes at Scottish Creameries First Milk, the UK dairy co-operative, has announced the commencement of employee consultation about proposed changes at its Scottish Creameries. The Scottish Creameries were put up for sale in April 2018 when First Milk announced that its Campbeltown and Arran Creameries were not core to its business strategy for the future. Despite significant effort over the [...]...

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

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements