Market research
Greene King, the UK regional brewer and landlord, said today that it believed it had turned in a strong set of interim results, despite the uncertain outlook and poor summer weather.
Turnover was up 22% to £314.4m and trading profit before goodwill and exceptional items was up 30% to £67.6m.
Before adding in the recent acquisition of Laurel, the company said its three trading divisions all contributed fully to the integrated corporate model and each one increased their underlying individual trading profits by 8%.
The Laurel contribution was an extra £11.2m of trading profit. The company's profit before tax, goodwill and exceptional items rose by 15% to £44.4m and the adjusted earnings per share by 15% to 43.3 pence.
Chief executive, Tim Bridge, said: 'These are a strong set of figures for the twenty four weeks, with underlying trading profit growth of 8% and the first contribution from the Laurel Neighbourhood acquisition. We have a thriving brewing business and a well-invested high quality pub estate and we feel well placed to continue trading successfully."
The board said it was declaring an increase of 10% to the interim dividend, taking it to 10.45 pence per share. This dividend will be paid on 24 January 2005 to those shareholders on the register at the close of business on 24 December 2004.
Sectors: Beer & cider
