Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGreene King Share News (GNK)

  • There is currently no data for GNK

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Not much Christmas cheer for pub firm Greene King

Mon, 19th Jan 2015 08:16

LONDON, Jan 19 (Reuters) - Greene King said tougherdrink-driving laws in Scotland had added to weak trading eitherside of Christmas across the British pubs group, keepingunderlying sales flat.

The group, which operates almost 2,000 pubs including HungryHorse, as well as breweries, said like-for-like sales at its ownmanaged pubs in the six weeks to Jan. 11 were in line with lastyear and up 0.6 percent after 36 weeks.

That was below a 3.5 percent rise expected by Cenkos analystSimon French and a market up almost 3 percent, according toindustry data.

Greene King said it had been up against a tough comparativefrom last year, adding that trading had been slow prior toChristmas and soft into 2015. Demand in Scotland had also beencrimped by a new law which makes the legal drink-drive limitlower than elsewhere in the UK.

Underlying sales over the two-week Christmas and New Yearperiod rose 2.0 percent, however, with record sales on ChristmasDay. Like-for-like sales were up 2.8 percent at its tenanted andleased division after 36 weeks.

The group said it expected its 774 million pound ($1.17billion) takeover of Spirit Pubs to complete during the firsthalf of 2015.

The takeover, which was agreed in November, followingSpirit's rejection of an earlier approach from Magners cidermaker C&C Group, was backed by shareholders last week.

The deal will create one of the biggest pub groups inBritain, with over 3,000 pubs, restaurants and hotels, boostingGreene King's exposure to a fast-growing casual dining market.

($1 = 0.6602 pounds) (Reporting by Neil Maidment)

More News
27 Nov 2018 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 28 November RPC GroupHalf Year ResultsTen LifestyleFull Year Year Year Year the

Read more
22 Nov 2018 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 23 November FutureFull Year ResultsPersonal Assets TrustHalf Year Year Year Smith

Read more
19 Nov 2018 11:13

Sales stagnates across pub and restaurant sector - survey

(Sharecast News) - British pubs and restaurants saw growth stagnate in October, as the sector wrestled with stiff competition, curtailed spending and rising costs.

Read more
6 Nov 2018 08:31

TOP NEWS: Long-Serving Greene King Chief Anand To Stand Down

LONDON (Alliance News) - Brewer and pub operator Greene King PLC said Tuesday its long-standing Chief Executive Rooney Anand will stand down at the end of April after 14 years in the has been CEO

Read more
18 Sep 2018 08:59

TOP NEWS: Spire Healthcare Issues Profit Warning On Lower Admissions

LONDON (Alliance News) - Spire Healthcare Group PLC on Tuesday warned on its annual earnings outcome as it reported a drop in first half earnings due to falling admissions rates.Shares in a

Read more
12 Sep 2018 13:42

Wednesday broker round-up

(Sharecast News) - Goals Soccer Centres: Peel Hunt upgrades to buy with a target price of 100p.

Read more
11 Sep 2018 16:06

Local pubs under threat as closure rate bubbles up

(Sharecast News) - Pubs and licensed premises closures doubled over the last three months, leading to concern that the traditional 'local' pub may soon become a thing of the past.

Read more
11 Sep 2018 12:51

Tueday broker round-up

(Sharecast News) - JD Wetherspoons: Berenberg upgrades to buy with a target price of 1,450p.

Read more
10 Sep 2018 11:27

JP Morgan applauds Greene King for 'undoubtedly' good start to the year

(Sharecast News) - Analysts at JP Morgan said that nature had given Greene King a somewhat unexpected boost throughout the first 18 weeks of its fiscal year 2019 as the UK's long, hot summer drove the pubco's like-for-like sales ahead 2.8% year-on-year.

Read more
7 Sep 2018 17:14

LONDON MARKET CLOSE: Trade Fears Sink Stocks As US Posts Strong Jobs

LONDON (Alliance News) - Stocks in London ended sharply lower on Friday as trade tariff fears, concerns over a potential hike in US interest rates and a firm pound weighed on equities. In addition, a

Read more
7 Sep 2018 11:48

LONDON MARKET MIDDAY: Stocks Lower As Focus Shifts To US Jobs Report

LONDON (Alliance News) - Stocks in London were lower at midday on Friday amid trade concerns with another round of US tariffs on China looming, as investors look ahead to upcoming US unemployment on

Read more
7 Sep 2018 10:18

WINNERS & LOSERS SUMMARY: IAG Downed By British Airways Payment Hack

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------DCC,

Read more
7 Sep 2018 10:17

Greene King is 'significantly undervalued', say analysts

(Sharecast News) - Friday was a good day for Greene King as its first quarter results impressed analysts sufficiently to lead to upgrades from Peel Hunt and Canaccord.

Read more
7 Sep 2018 09:33

BROKER RATINGS SUMMARY: Goldman Cuts Burberry; Redburn Cuts HSBC

LONDON (Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:----------FTSE 100----------GOLDMAN CUTS GROUP TO BUY -

Read more
7 Sep 2018 07:39

LONDON MARKET PRE-OPEN: Stocks Called Higher; Greene King Starts Well

LONDON (Alliance News) - Stocks in London are set to open marginally higher on Friday, though investors remain concerned about negative economic and political news, ahead of the key US nonfarm report

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.