Greene King serves up strong fourth quarter

Pub chain owner Greene King said it saw strong trading momentum continue through the final quarter, helped by the launch of new spring menus.

It said retail like-for-like sales were up 4.6% in the 50 weeks to 15 April and up 4.5% in the last thirteen weeks.

Like-for-like food sales in its Green King Retail business, which includes around 950 pubs, restaurants and hotels that it manages, were up 6.4% in the year to date and 6.7% in the last thirteen weeks.

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The firm added that core brand own-brewed volumes were up 0.8%.

Chief Executive Rooney Anand said that following a record Christmas, the firm achieved very strong like-for-like sales growth on Valentine's Day, Mother's Day and St. Patrick's Day.

"On Mother's Day, we sold 220,000 meals, up 16% on the previous year, with wine sales up 18%," he said.

"Easter sales this year, despite more mixed weather, were in line with Easter last year."

He added that the company's success at big events and its performance in London, where sales were up 6.7%, gave it confidence for the upcoming summer.

"We are well placed to benefit from the Diamond Jubilee, Euro 2012 and the Olympics," Anand said.

The firm added that its retail expansion strategy was on track with 37 new sites acquired or developed in the year so far, while Hungry Horse, its leading retail brand, had grown to 180 sites across the UK.