Greene King beers bring a boost to profits

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Related tags: Old speckled hen, Beer

Drinkers are helping to boost profits for Greene King by increasingly turning to Old Speckled Hen, Abbot Ale and IPA.Sales of the Suffolk brewer's...

Drinkers are helping to boost profits for Greene King by increasingly turning to Old Speckled Hen, Abbot Ale and IPA.

Sales of the Suffolk brewer's beers enjoyed double-digit growth in the eight months to January 6 despite the ongoing decline in the cask ale market.

The star performer was Abbot Ale, which increased by 14 per cent, while Old Speckled Hen rose 12 per cent and Greene King IPA edged up by eight per cent.

Greene King's estate of 1,600 pubs is also thriving, with like-for-like sales in its core managed houses, including the Hungry Horse chain, up by 6.5 per cent over Christmas.

Like-for-like sales for Pub Enterprises, which has shrunk from 1,120 to 1,075 leases and tenancies over the past 12 months, grew by 5.4 per cent in the 36 weeks to January 6.

Last year, the group focused on improving the quality of its estate after taking over Oxfordshire brewer Morland in 1999.

Chief executive Tim Bridge has said the company is on the look-out for small-scale acquisitions and is likely to take advantage of the removal of the 2,000 cap on brewers' pub ownership.

It plans to spend about £6.5m on refurbishments in its tenanted and leased pubs this year and is expanding its managed estate, including Hungry Horse, and has another two new brands under trial.

Related topics: Beer

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