Greene King Sales Boosted by 2018 Heatwave

Pub chain behind Greene King IPA and Old Speckled Hen posts rise in sales and revenue, although a wetter May and June - and no World Cup - will make it harder to match this 

James Gard 27 June, 2019 | 1:36PM

Greene King pub

Greene King (GNK) shares fizzed up 3% after the FTSE 250 pubs chain reported a rise in sales in the last financial year, thanks to a summer heatwave and the footbal World Cup. 

Group revenue for the year was 1.8% higher at £2.2 billion although pre-tax profits dropped 12.5% to £172 million. The fall in profits was attributed to a rise in one-off outlays linked to the company’s properties costing the firm £90 million. Excluding exceptional items, pre-tax profits were up 1.6% to £246 million. Net debt has edged down from £2 billion to £1.94 billion.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
ASI UK Inc Uncons Eq Plfm 1 Acc £ UnH78.35 GBP1.62
Greene King PLC  
Rathbone Income R Acc1,350.88 GBP2.18

About Author

James Gard  is content editor for Morningstar.co.uk

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