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Greene King: Sales up & Spirit integration 'going well'

By Ruth Williams, MC Allegra FS

- Last updated on GMT

Related tags: Like-for-like sales, Greene king brewery, Old speckled hen, Spirit

Greene King: Sales up & Spirit integration 'going well'
Greene King has this morning announced that like-for-like sales across its managed retail estate grew by 1.3% in the 18 weeks to 6 September, with growth of 1.9% in the last 10 weeks.

It said that all its major sales categories are in like-for-like sales growth.

The company said that excluding the continued impact of drink-driving regulations in Scotland, like-for-like sales were up 1.8% in the first 18 weeks, and up 2.4% in the last ten weeks. Like-for-like sales in the Spirit managed estate grew by 0.8% over the last 18 weeks.

In its Pub Partners business, like-for-like net income was up by 2.0% after 16 weeks, while it was up 1.1% in the Spirit leased estate.

Brewing & Brands own-brewed volume grew 1.7% in the first 18 weeks of the year with “good growth” seen from Old Speckled Hen, Greene King IPA and Abbot Ale, despite strong Take Home comparatives due to the World Cup last year.

The company said that although it is still early in the process, the integration of Spirit is going well and it remains confident of generating at least £30m of cost synergies.

It will provide a further update on the integration at our interim results on 2 December 2015.

Related topics: Greene King

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