Greene King has announced record retail revenue of £1bn in the 52 weeks to 3 May 2015.
Retail like-for-like (LFL) sales are up by 0.4%; Pub Partners LFL net income +3.5%, and Brewing & Brands own-brewed volume (OBV) +4.2%.
The group successfully completed a five-year strategic plan: Retail sites were expanded by 19.4%; tenanted EBITDA per pub increased by 33%; and ale market share grew by 120bps.
Greene King completed the acquisition of Spirit Pub Company plc, post year-end, creating UK’s leading managed pub company; integration process underway.
There was steady trading in first eight weeks; Retail LFL sales +0.6%, Pub Partners LFL net income +1.2% and Brewing & Brands OBV -3.7%.
Rooney Anand, Greene King chief executive officer, commented, “Greene King has delivered another record year in a challenging trading environment.
'We have delivered good underlying growth across all parts of the business with Retail generating revenue of over £1bn for the first time. Underlying earnings growth of over 9% has enabled a dividend increase of 4.8%, reflecting our confidence in the strength of the business and its prospects for future growth.
'We have also completed a successful five-year strategic plan, surpassing our goals, as we delivered significant progress, changed the business mix and better positioned the company for the future.
'We now enter another exciting new phase in the company’s history, with the acquisition of Spirit. We warmly welcome Spirit’s employees and its shareholders to Greene King. The acquisition will further strengthen our platform to deliver sustainable, long-term success for the benefit of our customers, our employees and our shareholders.”
