Profits rise for Suffolk brewer
SUFFOLK brewer Greene King has today reported a ten per cent rise in its pre-tax profits to £38.6 million.The Bury St Edmunds business has three sections – The Brewing Company, Managed Pubs and Tenanted Pubs – and they have all done well.
SUFFOLK brewer Greene King has today reported a ten per cent rise in its pre-tax profits to £38.6 million.
The Bury St Edmunds business has three sections – The Brewing Company, Managed Pubs and Tenanted Pubs – and they have all done well.
Rooney Anand, MD of Greene King's Brewing Company said it is all down to a tried, tested and traditional formula.
"We don't make changes just for the sake of it and we found something good 200 years ago and we stick with it," he said.
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Mr Anand said the company's people continue to make it what it is and although Greene King "doesn't do trendy" with pub themes, it goes for quality throughout.
"Sales of IPA, Abbot and Old Speckled Hen all went up despite the trend for the quantity of cask ale sales going down during the hot weather. Beer volumes have declined in the UK as customers drink more wine but we have more than held our own," he added.
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The Brewing Company's trading profit was up 28 per cent with its trading margin up 1.9 points.
Managed Pubs sales were up 3.8 pc and trading profit margin up 0.3 points while the Tenanted Pubs had an increased turnover of 6.3pc with a trading profit margin of 4.3 points.
Mr Anand, added: "Our new financial year has started very well and we face the future with confidence."