A 38-week trading statement from Suffolk-based brewer Greene King reports business over the last nine weeks as having remained relatively strong despite the impact of the recent bad weather across the UK.

Like-for-like sales across its managed estate - including the Hungry Horse and Old English Inns brands - were up 4.3 per cent across the period, having fallen back from a high of 5 per cent for the 35 weeks to the beginning of January. "Very strong" growth was seen in the two weeks over the Christmas period, with like-for-like food sales remaining strong; this was reflected in a rise in food-related drinks' sales.

The firm's brewing business - Old Speckled Hen and Abbot Ale - did well also, with volumes showing a 7.2 per cent rise across the period. However, the company warned that sales growth would ease during the coming year due to "ongoing tough comparatives" and the return of the VAT rate to 17.5 per cent from its previous 15 per cent.

Elsewhere, Greene King is to buy a further eight freehold, managed pubs from Punch Taverns for a total consideration of £15.9m. Funded from the proceeds of last year's £207.5m rights issue - of which the company has so far spent £79m on buying 26 pubs and repurchasing debt - the deal is expected to complete in February.