'No deal' Brexit could post 'significant risks', pubs and brewing group warns
PUBLISHED: 09:05 29 November 2018 | UPDATED: 09:06 29 November 2018
A 'no deal' Brexit could pose 'significant risks' to pubs and brewing group Greene King's business in a number of areas, it warned.
In its half-year report, the company outlined recruitment and supply chain challenges which could result from the UK leaving the European Union without a deal.
“In relation to Brexit, the group has identified significant risks in relation to a potential ‘no deal’ Brexit that could materially affect the business including supply chain disruption and availability of products, difficulties in attracting and retaining employees from within the European Union (EU), increased administration on tax and customs as well as a tightening of the property markets affecting both
acquisitions and disposals,” it said in its interim performance report for the six months to October 2018.
The Bury St Edmunds company has already laid out potential risks from Brexit in its 2017/18 annual report, which it is aiming to mitigate through various measures.
One of the risks it was preparing for was “a weakening economy and softer consumer confidence in the UK, which may become more volatile as Brexit looms,” it said. “We also continue to face significant cost headwinds, including the National Living Wage, the Apprenticeship Levy, the sugar tax and utilities taxes.”