The company told shareholders at its annual general meeting that in the 18 weeks leading up to September 5, the company’s own-brewed volumes were down 4.6% compared with 10% growth in the same period last year.
July and August sales are described as “very weak” but Greene King is still outperforming a falling beer market.
“Overall, operating profit, cash flow and the balance sheet are strong, and in line with our expectations,” the company stated.
“The economic and consumer environment remains uncertain as a number of significant headwinds, including public sector cuts, benefits reform and the impending VAT rise, are likely to affect future household spending.
“However, we are confident of delivering another successful year, continuing to expand our retail businesses and invest in our brands to generate market share gains.”