Greene King's stable includes four popular tipples

The brewer of IPA, Old Speckled Hen and Abbot Ale reported pre-tax profits of �82.6m, just ahead of City forecasts, with annual sales up 3% at �553m.

The 205-year-old Suffolk brewer runs nearly 1,700 pubs in Southern England.

Greene King said all its divisions were showing increased profits as the new financial year got underway.

"Overall our football pubs such as our community houses and some of our Hungry Horses did well because of the football," said chief executive Tim Bridge.

"The first eight weeks of the new financial year have started well. The profits for all three trading divisions are running ahead of last year and up to expectation."

'Bit pricey'

Greene King's shares have outperformed the FTSE 100 index by almost 15% over the past year.

But analysts have warned that the group's shares were starting to look a bit pricey.

"These are very solid decent numbers which will lead to some earnings upgrades, but the stock is expensive and the group needs to do something strategic, like make an acquisition," said analyst Greg Feehely at Altium Capital.

Shares in Greene King were quoted 16 pence lower at 999 pence.