Greene King Plc (GNK.L) announced preliminary results for the 52 weeks to 29 April 2012 posting pre-tax profit of 125.1 million pounds, higher than 116.8 million pounds last year.
Profit attributable to shareholders was 102.4 million pounds or 47.5 pence per share versus 106.8 million pounds or 49.6 pence per share in the prior year.
Pre-tax profit before exceptional items totaled 152.0 million pounds, up 8.6% from a year ago. Adjusted earnings per share rose to 52.9 pence from 48.1 pence in the prior year.
Revenues were up 9.4% to 1.14 billion pounds from a year earlier. The biggest driver of this growth came from the Retail estate where revenue grew by 13.1% with average revenue per pub rising by 7.6%.
Further, the board recommended a final dividend of 18.1 pence per share, up 7.7% on last year. The final dividend is expected to be paid on 10 September 2012 to those shareholders on the register at the close of business on 10 August 2012.
The outlook for the rest of the year remains uncertain as the company's customers continue to be challenged by pressure on their disposable income and uncertainty around their job security. Looking forward, Greene King is confident it can continue to make strong progress, not only for this year, but also for the long-term.
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by RTT Staff Writer
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