Plus   Neg

Greene King FY Pretax Profit Declines; Pub Company LFL Sales Up 2.9%

Greene King (GNK.L) said its Pub Company like-for-like sales were ahead of the market for the 52 weeks to 28 April 2019, driven by effective investments in value, service and quality and boosted by the good weather and successful World Cup.

For the 52 weeks ended 28 April 2019, profit before tax declined to 172.8 million pounds from 197.5 million pounds, while earnings per share was 38.7 pence compared to 58.9 pence. Adjusted profit before tax improved to 246.9 million pounds from 243.0 million pounds while adjusted earnings per share was 64.3 pence compared to 62.6 pence.

Fiscal year Group revenue was up 1.8% to 2.22 billion pounds. Pub Company revenue was up 1.8% despite a 2.5% reduction in the average number of pubs. Like for like sales were up 2.9%.

Greene King said, over the first eight weeks of the new fiscal year, trading was impacted by the poor weather and like-for-like sales in Pub Company were below last year's strong comparatives.

The board has recommended a final dividend of 24.4 pence. This takes the total dividend for the year to 33.2 pence, in line with last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Two companies have recalled Wintergreen Essential Oil saying the lack of child resistant packaging as required carries the risks of poisoning children, the U.S. Consumer Product Safety Commission stated. Waldo, Wisconsin - based Capstone Holdings LLC is calling back about 2,935 units of Simply Earth Wintergreen Essential Oil that were manufactured in the United States. The U.S. Food and Drug Administration approved Merck & Co. Inc.'s combination antibiotic Recarbrio for the expanded indication in the treatment of adults with hospital-acquired and ventilator-associated bacterial pneumonia (HABP/VABP). The drug had received initial approval in the U.S. in July 2019 to treat patients with complicated urinary tract infections and complicated intra-abdominal infecti Amazon is expanding the aircraft fleet of its air cargo network by leasing 12 additional Boeing 767-300 converted cargo aircraft from Air Transport Services Group Inc. This comes amid increased demand for shipments due to the coronavirus pandemic. These aircraft will join Amazon Air's existing fleet of 70 aircraft to bring its total network to more than 80 aircraft.
Follow RTT