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Greene King - 4.9% jump in managed pub like-for-like sales

August 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • GNK
  • Price:
  • 494p
Continuing its recent run of good news Greene King reported a pleasing set of full year results with pretax profit increasing almost 14% to £140m and eps rising 11% to 48.2p. Net debt increased £62m to £1,410m, following £131m spent on acquisitions and green field openings. However, it still has ample headroom with just £110m of its new £400m five-year revolving credit facility drawn down. Helped by first-time contributions from Cloverleaf and its Bellhaven (Scottish) pubs, which previously reported as a stand-alone division, its managed pubs side increased operating profit 11.2% to £132m. This came through a 4.9% rise in like-for-like sales, while operating margin was up 0.6%. Just before the year-end this side also acquir ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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