Managed pubs lead the way at Greene King

28th Apr 2010 07:37

Brewer and pub operator Greene King reported strong trading for the 49 weeks to April 11, with higher sales from its more food-orientated managed operations helping to offset weakness at leased pubs.Greene King Retail, which includes the Hungry Horse and Old English Inn brands, saw like-for-like sales rise by 3.6%, but at Pub Partners, where 'partners' are leasees who manage pubs themselves, earnings before interest depreciation and amortisation (EBITDA) per pub was down by 3.4%.At the brewing division, which makes brands such as Old Speckled Hen, volumes were up by 3.9% against a declining broader market, according to the company.The firm's Scottish managed pub division Belhaven Retail saw like-for-like sales rise by 5.6%.'We are still cautious for the remainder of 2010 as election uncertainty, rising taxes, public sector cutbacks and fragile consumer confidence may continue to limit consumer spending,' Greene King said. 'Nevertheless, we are confident we can meet these challenges and that the strength of our consumer offer in terms of value, service and quality, in combination with our high quality pub estate, retail and beer brands, will ensure we continue to deliver sector-leading performance.'