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Greene King's sales boosted by weather, World Cup

Greene King sales boosted by warm summer weather and the World Cup
Greene King sales boosted by warm summer weather and the World Cup

Like-for-like sales at Greene King's UK pubs rose 2.8% in the first quarter of their 2018 fiscal year, boosted by Britain's warmest summer in living memory and the football World Cup. 

Comparable sales for Pub Company, through which Greene King manages its chain of 2,900 pubs, restaurants and hotels, rose 3.2% growth over the last 10 weeks. 

The company, which owns ale brands including Greene King IPA, Old Speckled Hen and Abbot Ale, said it sold 3.7 million pints of beer in total during England's seven World Cup matches.

Sales on the day of England's semi-final against Croatia were up 61% compared to the same day a year ago, the company added. 

Total beer volumes in its Brewing & Brands business rose 4%. 

Greene King said its comparable pub sales growth was ahead of the overall market, which grew 1.2% according to the Coffer Peach Business Tracker. 

Greene King has been battling rising costs from the UK government's minimum living wage increase, higher property prices and a Brexit-spurred slide in sterling. 

The company said its mitigation programme to help offset cost inflation of £45-50m was on track. 

Greene King also said it was on course to sell 100-110 pubs this year and expects to open around nine new locations. 

Greene King, founded in 1799 and among Britain's main pub chains, said Greene King branded local pubs traded "particularly well", with comparable sales rising 5.5%.