Partly Cloudy

Partly Cloudy

max temp: 8°C

min temp: 7°C


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.


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.



  • 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


    Thursday, July 3, 2014

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

The Buttermarket Centre will become a £35m pleasure palace

Excitement is building as Ipswich prepares to welcome a string of big-name restaurants as part of the Buttermarket makeover.

It's been a busy day in Ipswich

All the news from a busy day in Ipswich in video form, including the closure of Marks and Spencer, station revamp and sport.

Felixstowe Beach Station not long before demolition in 2004.

Investigations are under way following clearance work at the former site of a historic railway station.

How well do you know your cars?

Test your knowledge in our car photo quiz and see if you can identify which car is which from just one small feature.

Company director spared jail

A Suffolk company director who crushed a worker to death was spared jail by a judge at Norwich Crown Court today.

The fire service cordons off an area near Marks and Spencer in Westgate Street where UK Power Networks works to find a  carbon monoxide leak

Marks & Spencer in Ipswich town centre was closed for most of the day after a carbon monoxide leak was detected.

Stores in Ipswich ready for Black Friday.

Black Friday is nearly upon us and it is set to kick off the busiest Christmas online shopping periods.

Two cars have been involved in a crash in Ipswich.

Foundation Street, Ipswich, around a century ago. Little remains of the ancient buildings in this street. This photograph was taken from near the junction of Lower Brook Street.

Foundation Street is one of the oldest streets in Ipswich, connecting the port with the town centre. Buildings which had stood for centuries were demolished in the early 1960s in what was then seen as “improvements”.

Hawkedon Veterinary Surgery is sponsoring a bag dispenser and bags for dog walkers to pick up and dispose of dog’s mess in Nowton Park, Bury St Edmunds. Left to right, Cllr Joanna Rayner and veterinary surgeon Rosina Page-Baker with Marley the dog.

A new initiative to reduce dog fouling in west Suffolk has seen dog bag dispensers installed at two popular parks.

Most read

Most commented

Topic pages

Local business directory

Suffolk's trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the Ipswich Star e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24