Pubs group Greene King saw retail and food like-for-like (LFL) sales rise 8.2% and 11.1%, respectively, in the last seven weeks, helped by an exceptionally strong Christmas week's trading.
"This was another strong performance driven by the strength of our business and our continued commitment to providing unrivalled value, service and quality to our customers," said Chief Executive Rooney Anand.
Christmas week LFL sales jumped 17% with customers looking for "enjoyment and some respite from the financial pressures they are facing," according to Anand.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Greene King sold a record 365,000 Christmas meals in December, with food sales on Christmas Day alone totalling £1.7m.
Full-year margins in Retail are expected to be flat on last year, while profit, cashflow and the balance sheet remain in line with expectations.
"Although we expect another difficult environment for the UK consumer in 2012, we remain confident that we will continue to deliver growth and value to our shareholders, driven by the strength of business, our Retail expansion strategy and our focus on offering unrivalled value, service and quality to our customers," the firm said.
-
Lloyds axes foreign currency fees for Club Lloyds customersClub Lloyds customers will be able to withdraw their money abroad without incurring any extra fees
-
How to invest during stagflationTrump’s tariffs look poised to push the global economy into a period of stagflation. We look at how to ensure your investments can survive a global slowdown.
