BREWER'S BONANZAFriday July 4,2008 Andrew JohnsonGREENE King weathered a “traumatic and difficult market” to surprise the City with a rise in full-year revenues and pre-tax profits. The 2,500-strong pub and brewing group said pre-tax profits rose 2 per cent to £142million on revenues up
5 per cent to £960.5million for the year to May. The figures were achieved despite the smoking ban, the credit crunch, rising fuel and food bills, beer duty hikes, cheap supermarket competition and a collapse in consumer confidence. “It was a hell of a mix,” said chief executive Rooney Anand. The results were driven by strong food sales and tight cost control which allowed the company to overcome higher bills. The company’s shares rose 33p to 433.25p. Anand believes the firm will survive a further weakeningin the economy because pubs were an “affordable indulgence”. However, the brewer saw a fall in beer sales. |
 |
|
| Wednesday 3rd December 2008 |  |
Make us your HOME PAGE |  |
What is RSS? |
