Greene King has posted its trading statement for the 18 weeks to 04 September 2016, which shows delivered like-for-like (LFL) sales growth of 1.7%.
The group saw a strong start to the year as customers enjoyed the European Football Championships and better weather. Growth was driven by its Local Pubs estate.
In Pub Partners, LFL net income was up 4.5% after 16 weeks, while in Brewing & Brands, own-brewed volume declined 0.5% over the same period.
Greene King continued to make strong progress with the integration of Spirit including the delivery of further planned synergies and over a quarter of its managed pubs now operating with the 'best of both' IT system. The firm also completed 41 brand conversions in the year-to-date with encouraging sales uplifts.
As expected, uncertainty surrounding the UK's future withdrawal from the European Union has translated into a softening of some economic indicators and a reduction in consumer confidence. While the broader implications remain unclear, a number of recent industry surveys have flagged risks to leisure spend and we are alert to a potentially tougher trading environment ahead.
With this in mind, the company will continue to focus on delivering great value, service and quality to its customers. Greene King has a track record of success in challenging trading environments, with a strong balance sheet. Plus, enhanced opportunities following the Spirit acquisition will help limit any potential impact from prolonged uncertainty in the environment.