Pubs firm Greene King warns of Brexit impact on consumer confidence
- Credit: PA
Pubs firm Greene King has warned that drinkers could be knocking back fewer pints in the future following the Brexit vote as consumer confidence takes a hit.
Boss Rooney Anand said that, despite a strong start to the year, 'it is likely that consumer confidence will be affected by Brexit in the near-term'.
'However, Greene King has a strong track record of performing well in challenging conditions, we are a resilient business with a talented team.'
Despite the warning, Greene King reaped the benefits of its £774 million acquisition of rival Spirit last year, seeing revenue rocket 57.6% to £2 billion as a result. Pre-tax profit rose 52.2% to £256.5 million.
Mr Anand added: 'It has been a transformational year for Greene King. We completed the acquisition of Spirit Pub Company and reached the milestone of £2 billion revenue.
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'We have delivered growth across each of the three divisions, outperforming the market in a challenging environment, while making significant progress in combining the best of both businesses to build Britain's best pub company.'
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