Greene King sees retail like-for-like sales grow 3.7%
14 January, 2013
Greene King saw like-for-like sales in its managed pubs and restaurants increase 3.7% in the 36 weeks to 6 January - underpinned by a 'record' Christmas performance and stronger food sales..
Like-for-like sales in the last six weeks, covering the Christmas and New Year period, were up 2.8% on last year. Chief executive Rooney Anand said: "Our strong momentum was maintained over the last six weeks. We achieved record Christmas bookings, record Christmas Day sales of £2.7m, up 6.8%, and during the whole of December, we sold 448,000 Christmas meals, another record for Greene King."
Total sales in its retail business, the largest and fastest growing part of its operation, were up 9.5% after 36 weeks, reflecting its continued estate expansion. It has added 22 sites in the financial year so far.
Food's share of total sales improved over the period, with year-to-date LFL sales growth of 4.1%. Room LFL sales also performed well, up 4.6% after 36 weeks.
Pub Partners, its leased and tenated business, also saw improved performance trends with a strong festive period. After 36 weeks, average EBITDA per pub was up 4.2%. Its disposal programme was on track, Greene King said, with 65 non-core sites sold in the financial year to date.
Core own-brewed volume in Brewing & Brands was down 2.0% after 36 weeks, against a UK ale market down 4.2%.
Annand said he did not expect conditions for the UK consumer to improve in 2013.
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