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UK: Greene King grabs beer market share

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Greene King has taken more share of the UK beer market after outperforming the sector over its most recent fiscal year.

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Greene King said today (1 July) that net beer sales rose by 4% for the 52 weeks to 2 May, reaching GBP97.9m (US$146.4m) versus GBP93.9m a year previously. 

The Old Speckled Hen and Abbot Ale brewer said it grabbed more share of the UK ale market after own-brewed volume sales rose by nearly 4% for the year, against a market down 6% over the same period.

Operating profits in Greene King's brewing division crept up by 0.9% to GBP21.4m, although margins declined by 0.7% due to higher input costs and price pressure amid tough economic conditions in the UK.

Greene King said its focus in brewing over the year ahead will be to "deliver continued profitable growth in our branded beer business through additional investment in Greene King IPA, the UK's leading cask ale, Old Speckled Hen, the UK's leading premium ale and Belhaven Best, Scotland's leading ale brand".

Total net sales for the group rose by 3% for the year, to GBP984.1m. Net profits, after deducting one-off costs, reached GBP79.9m, compared to GBP39.5m in a previous year hit by GBP49.4m in charges.

Operating profits slipped by 2% to GBP211.3m, from GPB216.2m a year earlier.

The group's Belhaven beer and pub business in Scotland performed strongly during the year, reporting sales up by 12% and operating profits up by 8%.

For the full announcement, click here.


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