LONDON (dpa-AFX) - Greene King PLC (GNK.L) reported pretax profit of 189.8 million pounds for the 52 weeks to 1 May 2016 compared to 118.2 million pounds, previous year. Profit attributable to equity holders of parent increased year-over-year to 190.9 million pounds from 89.3 million pounds. Earnings per share was 64.1 pence compared to 40.6 pence.
Before exceptional items, pretax profit increased to 256.5 million pounds from 168.5 million pounds, a year ago. Adjusted earnings per share was 69.5 pence compared to 60.6 pence.
Total revenue grew 57.6% to 2.07 billion pounds, from last year. Excluding a 705.1 million pounds contribution from Spirit, revenue increased 4.0% to 1.37 billion pounds.
Pub Company revenue was 1.00 billion pounds, an increase of 68.7% from prior year. The combined Pub Company business now accounts for over 81% of group revenue. In Pub Company, LFL sales growth was 1.5%, and included LFL sales growth in the original Greene King managed estate of 1.9%.
The board of Greene King has recommended a final dividend of 23.6 pence, giving a total dividend for the year of 32.05 pence. This represents growth of 7.7% compared to last year. The board continues to target minimum cover of around two times earnings.
The Group also reported that trading in the first eight weeks of the current year has strengthened, helped by the European Football Championships and better weather in May, with Pub Company LFL sales up 2.8%.
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