Greene King banks £7.7m in takings for record Christmas Day

Greene King took £7.7m in revenue on Christmas Day, it revealed this morning.

The figure is a record for the pub chain and helped like-for-like sales in the two weeks over Christmas and New Year to increase 11%.

Bosses at the firm described trading as “strong” and said the business was performing ahead of the market.

Greene King said all sales categories have seen like-for-like sales growth over the last six weeks with its Greene King branded Local Pubs driving strong drink sales growth.

Its cost mitigation programme is on track to limit net cost inflation to between £10m and £20m in the year while it made further progress on its estate optimisation programme, remaining on course to dispose of 100-110 pubs and open around nine new pubs in the financial year.

Greene King said that while the ongoing uncertainty around Brexit may still have an impact on consumer confidence and spending during the year, it remains confident of its outlook for the financial year.

“We remain focused on our strategic priorities of driving profitable sales growth, developing a more streamlined and efficient organisation, and further strengthening and improving the flexibility of our capital structure to deliver long-term value for our shareholders,” the company said.

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