Greene King profits fall

03 December, 2008

Operating profit in the brewing division of Greene King fell 11.5% in the 24 weeks to Oct 19, compared with a similar period a year earlier.

Profits slipped to £9.2 million on flat revenue of £41.4 million.

The company blamed the fall mainly on rising costs.

Old Speckled Hen volumes were up 6%, driven by off-trade growth.

Group operating profit – including Greene King’s pubs business – was 4.5% down on the corresponding period in the previous year, again on virtually flat revenue.

Chief executive Rooney Anand described it as a “solid set of results” given the current economic climate.

“Trading conditions are the toughest we’ve known for a long time,” he said, but added: “When the going gets tough, we have shown in the past that we have the capability and the energy to withstand difficult trading conditions.”




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Lifting the spirits

I were to sum up alcohol sales over Christmas 2017 in one word, it would be “gin”. At Nielsen, we define the Christmas period as the 12 weeks to December 30 and in that time gin sales were £199.4 million, which means they increased by £55.4 million compared with Christmas 2016. There’s no sign the bubble is about to burst either. Growth at Christmas 2016 was £22.4 million, so gin has increased its value growth nearly two-and-a-half times in a year. The spirit added more value to
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