Greene King Plc (GNK.L), in its interim management statement for the 18 weeks to 5th September 2010, said its retail businesses, representing about 70% of its revenues, are trading well. After 18 weeks, LFL sales within Greene King Retail were up 4.4%, and LFL sales within Belhaven Retail rose by 3.3%.
Also, the company noted that the operating profit, cashflow and the balance sheet are strong, and in line with its expectations.
Looking ahead, Greene King said it would continue to improve the overall quality of its estate and retailing skills of its licensees, and would shortly be launching its new Code of Practice following its accreditation from the British Institute of Innkeeping.
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