Greene King toasts sparkling Christmas trading

13th Jan 2014 07:14

- Very strong festive trading- LFL sales up 5.0% in last six weeks- Expects full-year to be in line to slightly ahead of last yearPubs, restaurants and hotels business Greene King said trading over the key Christmas and New Year period has been very strong and it remains confident of continued momentum.Retail like-for-like LFL sales rose 5.0% in the last six weeks and 3.8% year-to-date. Average earnings before interest, taxes, depreciation, and amortisation (EBITDA) per pub in Pub Partners rose 5.6%.Retail LFL sales over the two most important trading weeks of the year rose more than 6% as it sold a record 62,000 meals on Christmas Day. Chief Executive Officer Rooney Anand said: "Trading over the important Christmas and New Year period has been very strong with all of our businesses performing well." Greene King said strong growth was seen in Brewing & Brands; with core own-brewed volume up 5.8%.It added that retail margin remains strong and it now expects the full-year to be in line to slightly ahead of last year. "Overall, our expectations for profit, cashflow and our balance sheet are unchanged and we remain confident that we will continue to provide growth in earnings and dividends, and improving returns, to our shareholders," Anand said. CJ