The UK regional brewer and pub operator, Greene King, has reported an 8% rise in full-year pre-tax profit from £69.2m to £75m for the 12 months to 8 May 2003. The result was in line with market forecasts which had been in the range of £71m to £75m.
The company added that for the eight weeks since the year-end, like-for-like sales were up by 1% while beer sales at the Greene King’s Pub Partners tenanted business were up 6% and total beer volumes by 5%.
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“Trading is good and we are confident that the distinctive positioning of our businesses, their proven customer franchises and the quality of our people will enable us to increase earnings for shareholders at an attractive rate,” the company.
For the full year, sales rose by 8.3% from £494.5m to £535.6m while EBITDA before exceptionals rose by 11% to £127.6m.
