Pubs in tier two and three still in lockdown ‘in all but name’ November 26, 2020 The chief executive of Greene King has slammed the government’s new Covid tier system as “lockdown in all but name”. Nick Mackenzie said that as a result of the changes to restrictions, 99 per cent of the country’s pubs will be placed in tiers two and three, putting hundreds of thousands of jobs at risk. [...]
Rishi Sunak set to announce furlough extension in local lockdown areas October 9, 2020 Chancellor Rishi Sunak is set to announce a limited extension to the furlough scheme today as the government faces mounting criticism over fresh local lockdown restrictions across the country. Sunak will outline new support for people and businesses in England facing strict new measures set to come into force next week, including the closure of [...]
Greene King to close pubs as 10pm curfew cripples sales October 7, 2020 Pub chain Greene King is preparing to permanently close 26 sites, putting hundreds of jobs at risk of redundancy, due to a sharp drop in sales exacerbated by the 10pm curfew on hospitality venues. It has launched a consultation process with 800 employees over the potential job cuts, Sky News reported. The company is seeking [...]
Greene King launches pub grub delivery service May 14, 2020 Pub chain Greene King has launched a takeaway service from 29 London pubs to deliver meals across the capital during the coronavirus crisis. The company said 29 of its Metropolitan Pub Company sites, including the Cricketers in Richmond and the World’s End in Finsbury Park, will offer delivery through Deliveroo from 22 May. Additionally, 10 [...]
Pub companies: Is now the time to invest in a cheap pint? September 23, 2019 | City Talk Investors in Greene King are raising a glass in celebration after Hong Kong’s richest man, Victor Li, agreed to buy the UK’s largest publicly-listed pub and brewery company for £4.6 billion (including net debt). A unit of Li’s investment vehicle, CK Asset Holdings, has bid 850 pence per share – more than a 50 per [...]
Greene King shares surge 50 per cent on news of purchase by Hong Kong’s richest man August 19, 2019 Investors raised a glass to Greene King after the pub and brewery group agreed to be taken over by Hong Kong’s richest man in a £2.7bn deal. Shares shot up more than 50 per cent yesterday following the announcement that a subsidiary of CK Asset Holdings (CKA) will buy the entirety of Greene King’s shares [...]
High-yielding Greene King shrugs off weather warning July 4, 2019 | City Talk Bad weather is bad news, but the dividend is attractive and Greene King typically excels in winter. On balance, Greene King (LSE:GNK) full-year numbers edge into the “glass half-full” category, as the pub owner and brewer continues to extract value from its brand and estate. Apart from a healthy return on capital of 8.5 per cent, Greene King [...]
Greene King posts robust sales growth despite fall in profit after summer washout June 27, 2019 Pub chain operator Greene King has posted a robust rise in sales for the full year, despite a slump in profit and the impact of unseasonable weather in the first eight weeks. The figures Group revenue rose 1.8 per cent to £2.2bn in the 52 weeks to the end of April. Pre-tax profit dropped 12.5 [...]
ii Winter Portfolio doubles after fifth market-beating year May 22, 2019 | City Talk After an amazing fifth winter, our portfolio almost doubles in value and beats all the global indices, proving that international investors are wrong to ignore UK stocks. It also proves it is possible to time the market. Five years ago, our interest was piqued by a stock market phenomenon that promised consistent market-beating returns year [...]
Greene King shares fall despite sales growth during bumper Easter April 30, 2019 Pub chain Greene King is set to post moderate sales growth for the full year after its strong Christmas trading carried over into the Easter period. The pub operator and brewer said it expects like-for-like sales growth of 2.9 per cent in the 52 weeks to 28 April, ahead of market expectations. Read more: Brewer [...]