Revenue and profit growth across all divisions; adjusted earnings per share up 15.4%
Greene King Retail like-for-like (LFL) sales +2.0%, Spirit Managed LFL sales +1.2%, Pub Partners LFL net income +2.4% & Brewing & Brands own-brewed volume (OBV) +3.6%
Dividend per share up 6.3%; maintaining long-term growth record
Greene King return on capital employed (ROCE) up 20 basis points to 9.4%
Record customer satisfaction in Greene King Retail; Net promoter score (NPS) +7.1%pts
Completed acquisition of Spirit Pub Company; integration ahead of plan
Expect to outperform initial cost synergy guidance; target raised to £35m
Brand optimisation: Retail growth brands & investment programme identified to deliver long-term growth
Tenanted and leased fully integrated, ahead of schedule
Retail business to be based in Burton
Rooney Anand, Greene King chief executive officer, comments:
"It has been a strong first half, with the Greene King business strengthening and significant progress made in the Spirit integration. Like-for-like sales growth in Greene King Retail improved during the half and both Pub Partners and Brewing & Brands delivered profit growth and margin expansion.
"We completed the acquisition of Spirit Pub Company and, by combining the best of both companies, made good progress in capturing value from the acquisition and creating the UK's leading pub hospitality company.
"We believe we have the best portfolio of retail pub brands, the best pub assets and the most talented team which, when combined with the strong contribution from synergies and the benefits of our enlarged scale, will ensure we continue delivering value to our customers and our shareholders."
