Partly Cloudy

Partly Cloudy

max temp: 22°C

min temp: 14°C

Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

Bury St Edmunds: Record profits for Greene King as annual revenue tops £1.3bn

09:19 03 July 2014

Rooney Anand, chief executive of Greene King.

Rooney Anand, chief executive of Greene King.

ADAM SMYTH PHOTOGRAPER

Pubs and brewing group Greene King today reported a fourth consecutive year of record results after its annual turnover topped £1.3billion.

The Bury St Edmunds-based company posted revenues of £1.302bn for the 53 weeks to May 4, representing a 8.9% increase on the previous 52-week year’s figure of £1.195bn and 6.5% growth adjusted for the extra week’s trading.

Operating profit was 7% ahead in total, at £265.6million against £248.2m, and 5.0% higher on an adjusted basis while pre-tax profit before exceptional items was 9.4% higher (7.4% on adjusted basis) at £173.1m, against a restated £158.2m for 2013, reflecting changes in accounting rules.

However, statutory pre-tax profits were down 5.2% at £105.2m, from £111m the previous year, largely reflecting impairment charges on disposals and property, plant and equipment.

Like-for-like sales in the group’s flagship retail division were 4.1% up, with food sales 5.0% ahead on a like-for-like basis, average earnings per pub in its tenanted and leased pubs division were 5.2% up and core own-brewed volumes within the brewing and brands division were 4.6% up, with profit 1.3% higher.

Greene King chief executive Rooney Anand said: “We have delivered four years of record results since the credit crunch and maintained this momentum over the last 12 months by giving our customers what they want, in the right way and at the right price.

“Profit growth of 12% in our largest business, Retail, was driven by strong like-for-like sales growth and by newly-acquired sites. Pub Partners and Brewing & Brands also performed well. As a result, we achieved strong earnings, ROCE and dividend growth for the year.

““There are now clear signs that both the UK economic outlook and consumer confidence are improving, although consumers continue to spend cautiously.

“While continuing to provide customers with great value for money, excellent service and industry-leading quality, we see the pace of change in how people eat and drink out of home quickening and so we are shaping the business for the future to benefit from the opportunities these changes will bring.”

Greene King is part of the EADT and EDP Top100, which lists the 100 biggest businesses across Norfolk and Suffolk.

3 comments

  • No bias, of course!

    Report this comment

    Mad Brewer

    Saturday, July 5, 2014

  • For decades, GK has been a company heavily into selling to the Free Trade, where price is a factor. The "Retail" bit is the branded managed houses. Pub Partners is the tied pub bit and Brewing & Brands is what it says on the tin. The cost of beer in a Pubco outlet, or anywhere else, is not that much to do with the Br&Br bit. Micro brewery beer in many Pubco outlets is just as expensive, at point of sale, as Big Brewery product. Despite a preferential Duty rate. GK is a pubco as well as a brewer, of course. It is a decent company compared with "pure" Pubcos. IMHO.

    Report this comment

    Mad Brewer

    Saturday, July 5, 2014

  • Perhaps they might even reduce the price of their drinks ?. There again pigs might fly

    Report this comment

    "V"

    Thursday, July 3, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Motorcyclist banned

A handyman has lost his driving licence after police saw him speeding on his motorbike while over the drug-drive limit.

Police have been called to a collision between a Ford Focus and a Ford Fiesta near to the Suffolk Ski Centre.

Fraudster must now pay back £183,000

The kingpin behind internet escort and debt elimination scams which fleeced £5.7million from 17,300 victims has had the amount he must pay back reduced from £750,000 to £183,000.

Sir Stanley Rous

Sir Alf Ramsey wasn’t the only Suffolk knight to have a key role in the World Cup Final of 1966.

Team manager Alf Ramsey and trainer Harold Sheperdson (standing) watch England's victory over Germany in the 1966 World Cup

On the 50th anniversary of his greatest triumph, we are today celebrating Sir Alf Ramsey, the man who inspired both Ipswich Town and England to extraordinary levels of success and glory.

Millions of pounds are lost each year in our region due to people wasting medicines. Photo credit should read: Ben Birchall/PA Wire

Suffolk health chiefs are urging people to buy their own treatments after they spent £3.4 million on “wasted medicines” in the past year.

Samuel and Darren Noller at the Eiffel Tower, Paris

A father and son cycling duo raised more than £3,000 for a Suffolk charity helping women struggling with addiction.

The 23 Parachute Engineer Regiment marched through Woodbridge Market Hill to mark 10 years of being based just outside the town at Rock Barracks.

Crowds of people lined the streets of a Suffolk town to salute locally based soldiers.

Jubilee Meadow and Orchard, in Bredfield, near Woodbridge, received Keep Britain Tidy’s Green Flag Community Award. Planting the young orchard trees on a raw March day.

A Suffolk village will be flying the standard for top quality parks and gardens after receiving Keep Britain Tidy’s Green Flag Community Award.

Police are investigating

Police have been called to Thurston Road near Bury St Edmunds this evening after a bull escaped its field and onto the road.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24