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Greene King cheers 'strong start' despite Brexit knock to consumer confidence

Published 09/09/2016

Better weather and the Euro 2016 football championships helped give Greene King a 'strong start' to the financial year
Better weather and the Euro 2016 football championships helped give Greene King a 'strong start' to the financial year

Pub company Greene King has said consumer confidence took a hit after the Brexit vote and warned spending could slow in the months ahead.

"As expected, uncertainty surrounding the UK's future withdrawal from the European Union has translated into a softening of some economic indicators and a reduction in consumer confidence," it said.

The pub group said the "broader implications" of the Brexit vote were still unclear, but noted that recent industry surveys "have flagged risks to leisure spend and we are alert to a potentially tougher trading environment ahead".

Nevertheless, Greene King celebrated a "strong start" to the financial year thanks to better weather and the Euro 2016 football championships.

Like-for-like sales grew 1.7% in the 18 weeks to September 4.

Greene King is set to hold its annual general meeting on Friday.

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From Belfast Telegraph