LONDON (dpa-AFX) - Greene King PLC (GNK.L) reported pretax profit of 118.2 million pounds for the 52 weeks ended 3 May 2015 compared to 105.2 million pounds for the 53 weeks to 4 May 2014. Profit attributable to equity holders of parent was 89.3 million pounds or 40.6 pence per share compared to 96.1 million pounds or 44.0 pence per share, last year. Before exceptional items, adjusted earnings per share was 60.6 pence compared to 61.1 pence.
The Group reported that its operating profit before exceptional items was down 1.7% on a 52 week basis to 256.2 million pounds, and profit before tax and exceptional items was down 0.8% on a 52 week basis to 168.5 million pounds, each being affected by lower LFL sales growth and the impact of the disposal of 275 pubs to Hawthorn Leisure.
For the underlying retained business, which excludes the performance of pubs sold, pretax profit was 167.0 million pounds for the 52 weeks to 03 May 2015 compared to 159.2 million pounds, for the 53 weeks to 4 May 2014.
Total revenue was 1.31 billion pounds, compared to 1.30 billion pounds, last year. Total revenue was up 3.0% on a 52 week basis from last year. The Group said the biggest driver of growth continues to be our Retail business, where revenue grew by 5.9% and average revenue per site rose 2.4%. Retail now accounts for 76% of group revenue. Retail like-for-like sales were up 0.4%.
On a retained business basis, stripping out the impact of disposals, total revenue was up 5.0% to 1.31 billion pounds.
The board of Greene King has recommended a final dividend of 21.8 pence per share, up 4.8% on last year. This takes the total dividend for the year to 29.75 pence per share, up 4.8%.
The Group reported that in the first eight weeks of the new financial year, Retail LFL sales were up 0.6%. For the eight week period, managed LFL sales at Spirit were up 0.8%.
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