A stumble from Greene King

In recent years, Greene King has been surefooted under boss Rooney Anand in its organic and acquisitive expansion. But the group showed even it can have a bad time as it yesterday revealed a slump in first quarter sales. The company said the damage was being done by falling trading in its so-called “value food” outlets such as Hungry Horse and Chef & Brewer as consumers rein in spending, and rival pub operators sharpening up their acts.

It will be interesting to see how Wetherspoon, king of the value end of the food and drink market, fares when it reports its annual results next week.