E-Malt.com News article: 595

The British regional brewer Greene King Plc has announced that underlying sales at its managed pubs grew over the key Christmas and New Year period, allaying fears of weaker trading.

The 200-year-old company, which brews Greene King IPA, Abbot Ale and Old Speckled Hen and owns over 1,600 pubs in southern England, said like-for-like sales at its managed pubs in the 36 weeks to January 11 were up 0.3 percent on an uninvested basis.

The group's big rival Wolverhampton and Dudley Breweries Plc reported last month that its like-for-like sales dipped 0.5 percent in a 16-week period over Christmas, while other pub companies have seen tough trading over the holiday period.

Greene King added that like-for-like sales from its managed pubs in which substantial investment had been made rose 1.4 percent, while like-for-like turnover on an invested basis in its tenanted pubs rose 2.1 percent, both in the 36-week period.

It said volumes of its own-brewed beers were ahead by five percent after 36 weeks, led by Abbot Ale, which rose 20 percent, while Greene King IPA was up four percent and Old Speckled Hen increased 13 percent.


04 February, 2003