Greene King raises revenue by 8%

02 July, 2009

Greene King’s brewing company flew in the face of the recession to increase its revenue by 8.2% in the year to May 3, from £86.8 million to £93.9 million.

But lower margins meant operating profit was flat at £21.2 million.

Chief executive Rooney Anand said: “We have continued to both remove cost and switch from variable cost to improve efficiency.”

Greene King‘s group pre-tax profit was down 15% to £118.5 million on revenue improved by 1.3% at £954.6 million.

Anand said he was “encouraged “ by the figures.

He added: “Trading generally improved from December, although cost pressures remain and both economic and political uncertainty are affecting consumer confidence.

“We look forward with cautious optimism and believe we have the best assets, brands and people to continue growing our share of the market.”

Greene King has the number one premium ale in the off-trade with 13.3% volume share in multiple grocers, according to April’s Nielsen figures.




Bookmark this


Site Search

COMMENT

The shops that stand out from the madding crowd

The judges met last week to sort out the winners in the independent categories of our 2018 Drinks Retailing Awards. The results are top secret until the awards dinner on February 6 but it’s giving nothing away to report that the overall standard of those that will be revealed in the shortlist of finalists in the January issue of DRN is higher than it’s ever been.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Twitter