Group revenue at Greene King increased by 62.2% to £2,176m in the year to 1st January, up from £1,342m, with growth across all five divisions. Adjusted operating profit was £192.6m, versus £18.6m in the prior period.
Greene King chief executive Nick Mackenzie, with a pint of the brewer’s Coronation Ale
The business continued to deliver against its strategy, investing £242.3m in its brands, new pub and dining formats, and in acquisitions during the period. The group, which has 38,600 team members, also took proactive steps to help reduce costs through successful energy hedging and focusing on efficiencies.
“Greene King delivered a strong operational and financial performance during 2022, despite the challenging macroeconomic backdrop, with progress made in all our businesses,” said chief exeutive Nick Mackenzie.
“This was only made possible by our hardworking and committed team members and tenants, who I would like to thank. We also continued to invest in the business, which meant we made important strategic progress, particularly in new format and brand developments, targeted acquisitions, and through driving our cultural transformation.
“Looking ahead, we expect the tough backdrop to continue, and we have planned for this. We now have a stronger platform to deliver sustainable growth against a strategy that is working and with a strong balance sheet.
“By focusing on the things we can control, and supporting our team members and customers, we will continue to do what Greene King does so well, playing a meaningful role in supporting the communities we serve and leading the way in making our industry a better place to work.”
