FDBusiness.com

Record Results at Greene King

 Breaking News
  • Year of Considerable Progress For Dairy Crest Dairy Crest, the UK dairy group, increased revenue by 10% to £456.8 million and adjusted profit before tax increased by 2.8% to £62.3 million for the year ended 31 March 2018, compared with the previous year. Dairy Crest’s Cheese & Functional Ingredients business increased revenue by 8.8% to £277.2 million while revenue at the Butters, [...]...
  • Edrington Unveils the New Home of The Macallan Edrington, the international premium spirits company, has revealed the new distillery and visitor experience for The Macallan brand. The new distillery and visitor experience is located on the stunning Easter Elchies estate in Scotland, which has been home to the leading luxury single malt since 1824. From humble beginnings, the brand has risen to become [...]...
  • Nestlé Strengthens its Research Capabilities in Switzerland Nestlé has announced changes that further strengthen its research and development operations, the largest of any food company worldwide. Nestlé will bring together its two scientific discovery units, the Nestlé Research Center and the Nestlé Institute of Health Sciences, to build one impactful organization, Nestlé Research. The combination of two world-renowned research facilities with highly [...]...
  • Algaia Receives €4 Million Boost Algaia, will accelerate development and install a new specialty seaweed extract production unit at its Lannilis (Brittany-France) manufacturing facility dedicated to specialty algae extracts. The company’s main shareholder, Maabarot Products, has injected an additional €4 million in equity to support further expansion of the production facility and innovation center located in Saint-Lo (Normandy-France). Algaia works with local [...]...
  • Smarter Factories – Safer Working In food produce environments and packhouses, the benefits of automation when it comes to workforce health and safety are uncontended. From eliminating arduous and repetitive tasks to working uninterrupted within inhospitable chilled settings, robots are most certainly the future. Case loading specialist Brillopak and industrial automation pioneer Omron explore how smart robots, hardware and software can [...]...

Record Results at Greene King

Record Results at Greene King
December 02
15:58 2011

Greene King, the British regional brewer and pub group, has increased operating profit before exceptionals to a record £115.6 million in the 24 weeks to October 16th 2011 on revenue up 9.0% to £527.5 million. Profit before tax and exceptional items rose 5.6% to £77.2 million.

 

Founded in 1799 and headquartered at Bury St Edmunds in England, Greene King currently employs 20,000 people across its main trading divisions of Retail, Pub Partners and Brewing & Brands. It operates 2,410 pubs, restaurants and hotels across England, Wales and Scotland, of which 950 are retail pubs, restaurants and hotels, and 1,460 are tenanted, leased and franchised pubs. Greene King also brews ale brands from its Bury St Edmunds and Dunbar breweries, and is the UK’s leading cask ale brewer and premium ale brewer. Its core ale brands are Greene King IPA, the number one cask ale in the UK, Old Speckled Hen, the top premium ale in the UK, Abbot Ale, the leading premium cask ale in the UK, and Belhaven Best, the number one ale brand in Scotland.

 

Greene King’s development strategy is to increase its exposure to the more attractive categories of the UK pub market, such as food, coffee, wine and cask ale. This entails growing Greene King Retail to around 1,100 sites and improving the overall quality of the estate by targeted acquisitions and investment. Greene King also plans to improve the quality and sustainability of Pub Partners, its tenanted and leased business, by improving the customer offer, investing in core assets and reducing the estate to 1,200 sites. Another element of the strategy involves increasing investment in the company’s core ale brands.

 

As part of its Retail expansion strategy, Greene King completed the acquisition of Capital Pub Company in September for £96.0 million to add 33 high quality largely freehold sites located across London to its estate. In line with its strategy to reduce the size of its tenanted and leased estate, Greene King disposed of 47 non-core pubs and other properties during the first half for £12.8 million.

 

“This is another record set of results for Greene King, delivering strong sales, profit and earnings growth in a difficult consumer environment. Our largest, fastest-growing and increasingly-branded business, Retail, has achieved 10% profit growth, driven both organically and through our Retail expansion strategy. We took further share in the eating out market with 16% food sales growth in the period. Pub Partners continues to reposition itself towards a more sustainable, customer-focused model, while Brewing & Brands has achieved encouraging growth and market outperformance,” says Rooney Anand, chief executive of Greene King. “Falling consumer confidence and the weakening of the UK economic recovery suggest that we will face another tough trading environment in 2012. Despite this, there are still significant opportunities for growth, and we believe our strategy to grow our Retail estate and our share of the eating out market will help us to maintain our track record of strong earnings and dividends.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 1, 2018Gluten Free Expo Slovakia
  • June 3, 2018Vinoble
  • June 4, 20188th WSO World Congress on Stevia Tasteful 2018
  • June 17, 2018The Excellence of Italian Food and Wine (Bellavita Expo)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements