Greene King sells an extra 500,000 pints during England win
ENGLAND’S record-breaking 6-1 victory over Panama on Sunday helped Greene King sell an extra 500,000 pints of beer in one day.
Rooney Anand, the pub group’s boss, said sales in some of its pubs were close to twice as high as last year as fans grabbed a drink while watching the team win.
The pub boss refused to be drawn on how far Gareth Southgate’s squad is likely to go in the competition, adding: “I find forecasting the weather and Greene King’s fortunes hard enough so I’m certainly not going to try to forecast England’s progress.”
But Greene King had previously only budgeted for England to make it as far as the group stages, he said, meaning it is now due an unexpected sales boost regardless of whether the team triumphs in its secondround match next week.
The World Cup boost and the recent heatwave had helped Greene King grow like-for-like sales by 2.2pc in the past eight weeks.
But Mr Anand was speaking after the FTSE 250 company revealed a mixed set of annual results following a year of weak consumer confidence, rising costs and tough competition.
Pre-tax profits rose 6.8pc to £198m in the 12 months to April 29, but mostly because of higher one-off costs the year before.
Adjusted profits fell 11.2pc to £243m after the “Beast from the East” in February and March kept drinkers at home, dragging revenues down 1.8pc to £2.2bn.
Shares in Greene King tumbled 9pc to 581p yesterday. Mr Anand said it was being squeezed by a combination of higher wage bills, an increase in the cost of sourcing products, and higher taxes including business rates.
Greene King plans to shift focus away from food sales, towards drinks, he added.
Sam Allardyce, the former England manager, was spotted watching last Sunday’s game in a Greene King pub in London