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REAL ALE CHEER FOR GREENE KING

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Anand said the group would stick to its annual profits target

Wednesday September 5,2007

By Peter Cunliffe

THE clouds cast over the drinks industry by the wet summer turned out to have a silver lining for real ale brewer Greene King.

Sales of lager may have suffered because of the weather but Greene King saw sales of its brands outperform the market by growing at 10 per cent. The star performers were Old Speckled Hen and Abbot Ale while Scottish brew Belhaven Best saw sales rise 9 per cent.

Chief executive Rooney Anand said that, despite the unseasonal weather, the group was sticking to its annual profits target. Analysts have pencilled in profits of £146million. In a trading update for the past 17 weeks, Greene King said its two managed pub divisions enjoyed sales up 2 per cent.

Shares in the group, which last month bought Loch Fyne Restaurants, rose 6p to 1015p.


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