In its latest interim management statement, issued today before its AGM, Greene King said food sales grew 4.2% in 18 weeks to 4 September.
“This strong performance is despite the negative impact of last year’s World Cup,” the company said.
Both of this year's acquisitions, Cloverleaf and Realpubs, are trading strongly, the company said. It is also making plans to integrate Capital Pub Company, which it bought this July for £70m, and make operational savings of at least £2m.
Greene King’s own-brewed beer performed strongly, with volumes up 1.8% and 5% growth in the last 10 weeks, compared to the UK ale market’s 8% decline in the last quarter. “All of our category-leading core brands are outperforming their categories with Old Speckled Hen performing particularly well,” the company said.
But management warned that it faced an uncertain trading outlook as UK consumers cope with rising costs, falling disposable income and the prospect of increased unemployment.
“Overall, however, we are confident that our Retail expansion strategy, and the consistent delivery of excellent value, service and quality to our customers across each of our businesses, will enable us to deliver growth, further increase our market share and continue to deliver value to our shareholders,” it said.