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
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
Follow RTT
>