Greene King sales soar

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Greene King is the latest of many companies across the industry to report strong trading during the festive period. The company saw sales rise by 5.6...

Greene King is the latest of many companies across the industry to report strong trading during the festive period.​ The company saw sales rise by 5.6 per cent in its managed houses over Christmas and New Year.

Greene King's gains were made over the four weeks to January 5. JD Wetherspoon, the British industry benchmark in managed houses reported like-for-like figures up 3.6 per cent during the same period.

Greene King finance director Michael Shellow said every part of the business - brewing, managed and tenanted pubs - was performing well.

In the first 36 weeks of its financial year, the company saw a 25 per cent rise in sales of Speckled Hen. This helped to drive ale sales up 4.9 per cent in spite of a declining market.

The company said that the integration of English Inns was going well and expects the newly acquired pubs to make a healthy contribution to full-year profits. It expects to make cost-savings of £2m as a result of the deal.

In November a five per cent rise in interim profits to £29m. Full-year projections are for profits to hit £70m.

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