logo
Plus   Neg
Share
Email

Greene King 18-week LFL Sales In Pub Company Down - Quick Facts

Greene King PLC (GNK.L) Friday reported that like-for-like or LFL sales in Pub Company were down 1.8 percent for the first 18 weeks, reflecting the tough comparatives of last year's successful World Cup and good weather. On a two year basis, LFL sales for the first 18 weeks were up 1.0 percent.

LFL sales in Pub Company grew 1.5 percent over the last seven weeks and, on a two year basis, were up 2.4 percent.

LFL net income in Pub Partners was down 4.2 percent for the first 16 weeks, driven by softer LFL beer sales following last year's comparatives.

In Brewing & Brands, total beer volumes were down 6.5 percent for the first 18 weeks and own-brewed volumes were down 7.9 percent.

Looking ahead, the company said it is on track with its cost mitigation programme and expect to limit net inflation this financial year to 10 million pounds to 20 million pounds.

He company remains on track with its disposal programme and expects to dispose of 85-95 pubs this year, generating disposal proceeds of 45 million pounds to 55 million pounds from which it will fund the opening of eight new pubs.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apotex Corp. recalled all lots of type 2 diabetes medication Metformin hydrochloride in the form of oral film-coated tablets for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Groupe Renault plans to cut about 14,600 jobs across the world and lower its production capacity. The plan includes almost 4,600 jobs reduction in France, through voluntary retirement and retraining. Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network.
Follow RTT