UK: Greene King sees FY earnings leap
Greene King has posted a healthy rise in profit before tax for its fiscal year.
The UK brewer and pubs operator said today (4 July) that core profit for the year to 30 April 2006t was up by 25% year-on-year, coming in at GBP119.6m (US$220.6m) on the back of a rise in revenue of 16% at GBP818.6m.
The company boasted of strong performances in all divisions - Pub Company, Pub Partners, Brewing Company and the recently-acquired Belhaven.
"There have been significant developments across all areas of Greene King over the last year and this is reflected in these record results," said Greene King's chief executive Rooney Anand. "The results demonstrate our proven strategy that delivers value for shareholders."
A final net dividend of 14.35p per share has been recommended, which will give an increase of 11% in the total net dividend for the year to 20.15p per share. The final dividend is expected to be paid on 11 September to those shareholders on the register at the close of business on 4 August.
Last month, Greene King launched a GBP270m friendly takeover bid for East Midlands-based pub operator Hardys & Hansons.
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