Hen and IPA sales boost Greene King's brewing profits
Old Speckled Hen led the charge in take-home for Greene King as it posted a 2.2% increase in sales and a 9.7% rise in operating profits in its brewing and brands division in the year to May 1.
Brewing and brands contributed £196.9 million to overall group revenue which pushed past the £2 billion mark, a 57.6% rise in a year in which it bought the Spirit pub company.
Greene King IPA sales were up 8% on the previous year.
Chief executive officer Rooney Anand said: "I am pleased to report a strong start to the new financial year, although it is likely that consumer confidence will be affected by Brexit in the near-term.
“However, Greene King has a strong track record of performing well in challenging conditions. We are a resilient business with a talented team and a strong balance sheet, and we will benefit from the opportunities created by the Spirit acquisition.
“We are well placed to continue delivering value to our shareholders."