Acquisitions boost Greene King’s first half profit
Greene King has reported increased revenue and operating profit for the 24 months to 15 October, boosted by recent acquisitions.
The brewer and pub operator’s revenue rose 16 per cent to £419.2m and operating profit increased by 17 per cent to £100.9m.
Chief executive Rooney Anand said that the company benefited from buying Belhaven – the Scottish brewer – in October last year and the Hardys & Hansons pub estate this September.
“This has been another very strong first half, with encouraging organic growth and profit conversion,” he said. “We have benefited from our acquisition of Belhaven, which is proving a great addition to Greene King. In the second half there will also be a full contribution from Hardys & Hansons, which is performing well, and integration is on track.”
Meanwhile, it was recently reported that the company has put 150 tenanted pubs up for disposal and has appointed PricewaterhouseCoopers to advise on the sale. Details: www.greeneking.co.uk
Photograph: Greene King chief executive Rooney Anand
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