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Greene King PLC (GNK.L)

GNK.L on London Stock Exchange

513.50GBp
24 Nov 2017
Change (% chg)

4.50 (+0.88%)
Prev Close
509.00
Open
507.00
Day's High
515.50
Day's Low
503.00
Volume
1,045,226
Avg. Vol
1,463,018
52-wk High
768.00
52-wk Low
490.08

Latest Key Developments (Source: Significant Developments)

Greene King says 18-wk Pub Company LFL sales down 1.2 pct
Friday, 8 Sep 2017 02:00am EDT 

Sept 8 (Reuters) - Greene King Plc :IN FIRST 18 WEEKS OF YEAR, PUB COMPANY LIKE-FOR-LIKE (LFL) SALES WERE -1.2%, AGAINST A MARKET WHICH DECLINED -0.7%*.IN THE FIRST 18 WEEKS OF THE YEAR, EXCLUDING FAYRE & SQUARE, WHICH IS BEING REBRANDED DURING THIS FINANCIAL YEAR, LFL SALES WERE -0.9%.IN FIRST TEN WEEKS, LFL SALES WERE IN LINE WITH OUR EXPECTATIONS AND BROADLY IN LINE WITH LAST YEAR, DESPITE TOUGH COMPARISONS FROM EURO 2016.SINCE SECOND HALF OF JULY, WHEN WEATHER WORSENED, TRADING WEAKENED..CONTINUING TO ADDRESS CHALLENGES OF VALUE FOOD SECTOR THROUGH MEASURED CAPITAL INVESTMENT TO UPGRADE AND REPOSITION PUBS AND THROUGH SELECTIVE DISPOSAL.PROGRAMME TO DELIVER £45M OF COST SAVINGS THIS YEAR, INCLUDING FURTHER COST SYNERGIES FROM SPIRIT ACQUISITION, IS ON TRACK.LFL NET PROFIT IN PUB PARTNERS WAS UP 1.4% AFTER 16 WEEKS, WITH IMPACT OF MRO IN LINE WITH OUR EXPECTATIONS.IN THE FIRST 18 WEEKS OF THE YEAR, OWN-BREWED VOLUME WAS DOWN -0.5% AGAINST A UK ALE MARKET DOWN -2.9% AND A CASK ALE MARKET DOWN- 7.0%.EXPECT CHALLENGES OF WEAKER CONSUMER CONFIDENCE, INCREASED COSTS AND INCREASING COMPETITION TO PERSIST OVER NEAR TERM.  Full Article

Greene King appoints Richard Smothers CFO to replace Kirk Davis
Friday, 11 Aug 2017 02:00am EDT 

Aug 11 (Reuters) - Greene King Plc :Change of chief financial officer.Richard Smothers will be joining Greene King in December 2017, and joining board as chief financial officer in February 2018.Richard is replacing Kirk Davis, who will be leaving Greene King at end of January 2018 to become chief financial officer of Restaurant Group.  Full Article

Greene King's full-year adj pretax profit rises 6.6 pct
Thursday, 29 Jun 2017 02:13am EDT 

June 29 (Reuters) - Greene King Plc :Fy pretax profit fell 2.6 percent to 184.9 million stg.Fy adj pretax profit rises 6.6 percent to 273.5 million stg.Final dividend 24.4 penceper share.Total dividend 33.2 penceper share.Continued market outperformance.Pub company like-for-like (lfl) 2 sales up 1.5%, ahead of market 3 , driven by a good christmas, a stronger q4 and a strong performance from greene king locals.Record performance from pub partners; lfl net profit 2 up 5.0%.Performance has been achieved against a demanding backdrop of increased costs, weaker consumer confidence and increasing competition.I expect these challenges to intensify over next few years, greene king has a very strong track record of delivery in tough market conditions.  Full Article

Greene King details impact from national living wage
Wednesday, 30 Nov 2016 05:16am EST 

Greene King Plc : CFO - "We now expect the impact from national living wage to be 4 million pounds in 2017" Further company coverage: [GNK.L].  Full Article

Greene King says H1 pretax profit up 9 pct to 92.5 mln stg
Wednesday, 30 Nov 2016 02:00am EST 

Greene King Plc : Half year pretax profit rose 9 pct to 92.5 mln stg . Interim dividend up 4.1 pct to 8.8 pence per share . H1 revenue rose 13.8 pct to 1.044 bln stg . Pub company like-for-like (LFL) sales up 1.3 pct ahead of market . Strong performance from Pub Partners; LFL net income up 4.2 pct . Synergies expected to be 30 mln stg this year; original three year target in two years . Further challenges through national living wage, national minimum wage, apprenticeship levy, recent proposed increases in business rates .These government initiatives will impact on costs and margins within hospitality industry going forward.  Full Article

Greene King completes 300 mln stg secured bond issuance
Thursday, 26 May 2016 09:05am EDT 

Greene King Plc :Has finalised terms of a tap of its secured financing vehicle including issue, by greene king finance plc, of £300m class a6 notes due 2035 with a 4.0643 percent coupon.  Full Article

Greene King plc announces retirement of chairman
Tuesday, 2 Feb 2016 02:00am EST 

Greene King plc:Says Tim Bridge, chairman of the company, will be retiring from the board on 1 May 2016.Says Philip Yea is joining the board on 2 February 2016 as a non-executive director, and then will take over as chairman on 2 May 2016.  Full Article

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Banks outperform on ECB talk as euro gains hamper European shares

MILAN European shares ended little changed on Friday as the euro's rally dimmed appetite for regional stocks but talk about possible cuts to European Central Bank stimulus boosted banks.