Greene King sees a slow start to the year as World Cup hits sales

Even though England didn’t win the World Cup, fans did not drown their sorrows in ale
British pub and breweries group Greene King announced yesterday that it expected sales in its core managed division to improve over the remainder of the year, after a disappointing 0.4 per cent growth in the first quarter due to the impact of England’s disappointing World Cup performance.

The group also said that despite the UK’s improving economy, customers are still spending money cautiously, and so in response to this the group is being careful not to over-invest in tactical, short-term sales building promotions.

“We anticipate that Retail life-for-like sales will improve as the year progresses and that the momentum in Pub Partners and Brewing & Brands will continue,” said chief executive Rooney Anand.

Shares in the group slipped four per cent yesterday to 797.5p.