Monday, January 14, 2013

Greene King hails festive food record - Proactiveinvestors (UK)

Brewer Greene King () hailed a record-breaking Christmas as more punters sat down for some pub grub over the festive season.

Like-for-like sales in the 36 weeks to January 6 rose 3.7%, with underlying food sales up over 4%.

Sales on Christmas Day were ?2.7mln, up almost 7%, while during the whole of December it sold 448,000 meals, another record for the company.

The FTSE 250 pub operator tempered expectations though when it claimed that conditions in the UK consumer environment will not pick up in 2013.

?While this presents ongoing challenges for all consumer-facing businesses, we are confident that our strategy, tailored to the prevailing conditions, and our consistent focus on providing excellent value, service and quality to our customers, will continue to deliver sustainable earnings and dividend growth to our shareholders,? a statement read.

Rooney Anand, Greene King?s chief executive, added that the company?s strong momentum has been maintained over the last six weeks.

?We achieved record sales through Christmas and the New Year as our teams once again delivered excellent value, service and quality to our customers,? he said.

Shares edged up 0.7% to 653p on the news.

Source: http://www.proactiveinvestors.co.uk/companies/news/52346/greene-king-hails-festive-food-record-52346.html

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