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Pubs firm Greene King warns of Brexit impact on consumer confidence

Published 29/06/2016

Greene King has warned that Brexit could have an impact on consumer confidence
Greene King has warned that Brexit could have an impact on consumer confidence

Pubs firm Greene King has warned that drinkers could be knocking back fewer pints in the future following the Brexit vote as consumer confidence takes a hit.

Boss Rooney Anand said that, despite a strong start to the year, "it is likely that consumer confidence will be affected by Brexit in the near-term".

"However, Greene King has a strong track record of performing well in challenging conditions, we are a resilient business with a talented team."

Despite the warning, Greene King reaped the benefits of its £774 million acquisition of rival Spirit last year, seeing revenue rocket 57.6% to £2 billion as a result. Pre-tax profit rose 52.2% to £256.5 million.

Mr Anand added: "It has been a transformational year for Greene King. We completed the acquisition of Spirit Pub Company and reached the milestone of £2 billion revenue.

"We have delivered growth across each of the three divisions, outperforming the market in a challenging environment, while making significant progress in combining the best of both businesses to build Britain's best pub company."

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