Greene King smoke ban 'prudent' says City

From The Publican


Related topics: Company & City News

Despite the fact that most City dealing rooms are thick with tobacco smoke, the Square Mile has welcomed news that Greene King is to roll out the smoking ban already introduced in some of its pubs.

In Monday morning trading, Greene King's already-healthy share price was trading at around 5p higher than Friday's close after the brewer announced plans to ban smoking at its 140-pub Hungry Horse chain and 50 other food-led pubs as well as its 70 Old English Inns.

Analysts took the view that monitoring the effects of a ban in some pubs now is likely to give Greene King a competitive advantage.

Stuart Price at investment bank Panmure said: "We believe that management is being cautious and prudent. The company should be able to draw on the experience of its implementation of a ban on smoking in the event of an early government-imposed ban."

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