Rooney predicts Euro’s and Olympics success

rooney anand'greene king chief executive
rooney anand'greene king chief executive
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A summer of success beckons at the Euro’s football tournament, London Olympics – and the Diamond Jubilee – according to the head of Greene King.

Rooney Anand, chief executive of Greene King said the pubs and brewing firm expects strong drink and food sales during the events.

He was speaking as the company announced details of its pre-close trading update.

“Our success at big events and our performance in London, where like for like sales are up 6.7 per cent, bode well for the upcoming summer as we are well placed to benefit from the Diamond Jubilee, Euro 2012 and the Olympics,” said Mr Anand.

The results showed like for like sales in its retail brand up 4.6 per cent, food sales up 6.3 per cent, while its pub partners division reported EBITDA (earnings before interest, taxes, depreciation and amortization) up 3.8 per cent.

And its own-brewed brand volumes grew by 0.8 per cent against a 4.5 per cent fall in the UK ale market.

“Our focus on delivering unrivalled value, service and quality to our customers continues to drive our growth,” said Mr Anand.

“Following a record Christmas, we achieved very strong like for like sales growth on Valentine’s Day, Mother’s Day and St Patrick’s Day.”

He highlighted food and wine sales on Mother’s Day, up 16 per cent and 18 per cent respectively.

The announcement this week was for the results for the 50 weeks up to April 15.

Greene Kings full year preliminary results will be announced in June.

The year has also seen the company buy up or develop 37 new sites, while its leading retail brand Hungry Horse, has grown to 180 sites across the UK.

Some 97 ‘non-core’ pubs in its Pub Partners division have either been sold or closed.

Greene King operates 2400 pubs, restaurants and hotels across England, Wales and Scotland.