Cheers at pub group Greene King as revenue hits record high

Revenue at pub group Greene King has hit a new record high.

The Bury St Edmunds-based brewer saw revenue rise by 13.8 per cent to £1,044.3 million despite challenges posed by the National Living Wage and customers’ higher expectations.

It is the first time the company’s revneue has exceeded £1 billion in the first half of the year.

The pub group says profits before tax rose 14.6% to £139 million for the six months to October 16.

Like-for-like sales at its pubs chain rose by 1.3 per cent.

Chief executive Rooney Anand said: “We have delivered market outperformance and strong integration momentum against a backdrop of continued challenging market conditions.

“Our performance has been driven by growth in all divisions and the synergy benefits from the integration.

“These have helped to offset increased cost pressures, particularly from the National Living Wage, as well as additional investment in the customer offer to meet higher guest expectations of value, service and quality.

He added: “The full impact of the UK decision to leave the EU remains unclear.

“Looking ahead, increasing levels of consumer uncertainty, further cost pressures and the changing dynamics of eating out, mean the consumer environment is likely to become more challenging.

“However, we are confident that the strength of our brands, pubs, people and cash generation leaves us well placed to deliver another year of progress, value creation and returns for our shareholders.”