Greene King raises revenue by 8%

02 July, 2009

Greene King’s brewing company flew in the face of the recession to increase its revenue by 8.2% in the year to May 3, from £86.8 million to £93.9 million.

But lower margins meant operating profit was flat at £21.2 million.

Chief executive Rooney Anand said: “We have continued to both remove cost and switch from variable cost to improve efficiency.”

Greene King‘s group pre-tax profit was down 15% to £118.5 million on revenue improved by 1.3% at £954.6 million.

Anand said he was “encouraged “ by the figures.

He added: “Trading generally improved from December, although cost pressures remain and both economic and political uncertainty are affecting consumer confidence.

“We look forward with cautious optimism and believe we have the best assets, brands and people to continue growing our share of the market.”

Greene King has the number one premium ale in the off-trade with 13.3% volume share in multiple grocers, according to April’s Nielsen figures.




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Looking back to look forward

Wine is a liquid time capsule. Drinking older vintages not only recalls the weather conditions and winemaking styles of the past, it encourages us to reflect upon our own histories. Such reminiscence often inclines towards romanticised nostalgia. Especially after the second bottle. But looking back is a great way of learning about the future.

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