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Tuesday, 10 December, 2002, 12:39 GMT
Profits up at Greene King
Greene King Brewery
The brewery is based in Bury St Edmunds
Suffolk pub and brewing group Greene King has reported a lift in half-year profits.

The group, based in Bury St Edmunds, said pre-tax profits for the 24 weeks to 19 October were up 9% to �35m.

Turnover at the group was up 17% at �249m.

Results were boosted the acquisitions of Old English Inns last September and Morrells of Oxford in June.

Sustain progress

Chairman David McCall said the group had seen an "encouraging start" to its new financial year, with all areas of the business reporting continued profit growth.

"While leisure consumer expenditure seems to have tightened slightly, we are confident that the strength of our business and strategy will enable us to sustain our progress," he said.

His view is supported by analysts who say the provincial nature of Greene King's 1,700 pubs is expected to protect it from any high street slowdown.

Sales of the group's beer brands rose 5% during the six months, with star performers were Greene King IPA, up 6%, Old Specked Hen up 14% and Abbot Ale up 22%.


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See also:

24 Sep 02 | England
27 Jun 01 | Business
04 Jun 01 | Business
31 May 01 | Business
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