Greene King Plc. (GNK.L) Tuesday said its like-for-like sales, or LFL, were up 5.1 percent after 18 weeks, despite the poor weather this summer. Overall, margins, profit, cashflow and balance sheet remain in line with expectations, the company noted.
In an Interim Management Statement for the 18 weeks to September 2, the firm said the Olympics had a minimal net impact on the overall Retail performance.
While in London, the City and the West End were generally quiet in the suburbs, including Realpubs and Capital Pub Company sites, trading was stronger.
LFL food sales growth was 5.2 percent while LFL drink sales growth was 5.0 percent and room sales grew 4.9 percent.
In Pub Partners, after 16 weeks, average EBITDA per pub was rose 3.5 percent, while LFL EBITDA in core estate slid 0.5 percent.
''We believe underlying trading trends across the business have been maintained through the summer, despite the disappointing weather. This is encouraging for the rest of the year, although we expect consumer confidence to remain subdued,'' the company said.
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