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No Brexit blues at soaraway Greene King

By: JimOldfield

June 30th, 2016

Brewer Greene King has shrugged off Brexit concerns, as it passed the £2 billion revenue mark in its full-year results.

Greene_kingGreene King added the Scottish Spirit Pub Company to its portfolio at a cost of some £774m in the past year – and the brewers refused to bend to the worries of Brexit and a possible Scottish independance referendum.

Chief executive Rooney Anand said:  “It is likely that consumer confidence will be affected by Brexit in the near-term… but half our base voted for it and the other half will continue to want to eat and drink out.

“The Scottish business has had a very, very good year, both on an underlying basis and with the addition of Spirit”. Our commitment to and investment in Scotland remains strong and consistent and will absolutely continue in the next year.”

Greene King added 791 managed pubs to its portfolio with the Spirit acquisition, and it has seen revenue grow in all of its three divisions, with profits rocketing by 60 per cent to £189.8m.

The Suffolk brewer has recently invested £1m in a new brewery at its base in Bury St Edmunds.

Visit the brewer’s website