Pub group Greene King has reported a strong start to its current financial year and said that sales for the past 12 months have risen 57% to £2.07 billion. It has also seen a 61% rise in pre-tax profits to £190m.
Commenting on Greene King’s transformational year, CEO Rooney Anand, said: “We completed the acquisition of Spirit Pub Company and reached the milestone of £2bn revenue. We have delivered growth across each of the three divisions, outperforming the market in a challenging environment, while making significant progress in combining the best of both businesses to build Britain’s best pub company.”
Anand was “pleased to report a strong start to the new financial year” but predicted that “consumer confidence will be affected by Brexit in the near-term”.
However, despite the uncertainty surrounding the recent vote to leave the EU, Anand believes that “Greene King has a strong track record of performing well in challenging conditions.”
He said: “We are a resilient business with a talented team and a strong balance sheet, and we will benefit from the opportunities created by the Spirit acquisition. We are well placed to continue delivering value to our shareholders.”
Founded in 1799, Greene King currently employs around 44,000 people across its 3,035 pubs, restaurants and hotels across England, Wales and Scotland.