Hen and IPA sales boost Greene King's brewing profits

29 June, 2016

Old Speckled Hen led the charge in take-home for Greene King as it posted a 2.2% increase in sales and a 9.7% rise in operating profits in its brewing and brands division in the year to May 1.

Brewing and brands contributed £196.9 million to overall group revenue which pushed past the £2 billion mark, a 57.6% rise in a year in which it bought the Spirit pub company.

Greene King IPA sales were up 8% on the previous year.

Chief executive officer Rooney Anand said: "I am pleased to report a strong start to the new financial year, although it is likely that consumer confidence will be affected by Brexit in the near-term.

“However, Greene King has a strong track record of performing well in challenging conditions. We are a resilient business with a talented team and a strong balance sheet, and we will benefit from the opportunities created by the Spirit acquisition.

“We are well placed to continue delivering value to our shareholders."




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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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