Greene King reports record Christmas Day sales

By Emily Hawkins contact

- Last updated on GMT

Merry Christmas: pubco and brewer Greene King reported record Christmas Day sales (image: Sludge G, Flickr)
Merry Christmas: pubco and brewer Greene King reported record Christmas Day sales (image: Sludge G, Flickr)

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Like-for-like sales at the Bury St Edmunds-based pub company were up 10.9% in the fortnight up to 6 January 2019, covering Christmas and the new year.

The pub company reported record Christmas Day sales of £7.7m, with a 3.2% boost in like-for-like sales at the end of the 36th week of its financial year.

All sales categories saw like-for-like sales growth over the past six weeks, with drink sales driven by the pubco’s branded local pubs, the company said.

The company said it was confident in the upcoming months despite the potential for Brexit to dissuade customers.

A Greene King spokesperson said: “While the ongoing uncertainty around Brexit may still have an impact on consumer confidence and spending during the year, we remain confident of our outlook for the financial year.

“We remain focused on our strategic priorities of driving profitable sales growth, developing a more streamlined and efficient organisation, and further strengthening and improving the flexibility of our capital structure to deliver long-term value for our shareholders.”

Cost mitigation 

Greene King claims cost-cutting measures are on track, including the planned disposal of 100 to 110 pubs, the pubco reported.

It hopes to limit net cost inflation between £10m and £20m and open about nine new sites in the financial year.

Greene King chief executive Rooney Anand will leave the pubco in April 2019, to head education and skills charity WorldSkills UK.

Last year, he said the chain had seen continued positive momentum in 2018​ that had been “sustained beyond the boost of the World Cup and the summer weather”.

The pubco is yet to announce who Anand’s successor will be.

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