Performance highlights Growth in all areas
- Pub Company4 like-for-like (LFL) sales +1.5%; ahead of the market +1.3%5
- Pub Partners LFL net income +2.7%
- Brewing & Brands own-brewed volume (OBV) +2.9%; ale market share up 40 basis points to 10.5%
- Operating cash flow +24.1%; net debt/EBITDA improved to 3.9x6
- Group return on capital employed (ROCE) +10 basis points to 9.4%
- Dividend per share up 7.7%, continuing our progressive dividend track record
Strategic and operational progress
- Five strategic priorities outlined to drive future underlying growth
- Record customer satisfaction scores in Greene King Pub Company; net promoter score (NPS) +7.9%pts
- Greene King named Best Managed Pub Operator at the 2016 Publican Awards
Acquired Spirit Pub Company; integration and synergies ahead of plan
- £16.7m of cost synergies delivered versus year one target of £12m
- Tenanted and leased integrated ahead of schedule; integration of the managed business well under way
- Five retail growth brands identified and optimisation programme commenced to deliver long-term growth
- As throughout, profit figures are shown before exceptional items.
- EBITDA represents earnings before interest, tax, depreciation, amortisation and exceptional items and is calculated as operating profit before exceptionals adjusted for the depreciation and amortisation charge for the period.
- 2011–2013 adjusted for the impact of IAS 19(R).
- Previously Retail.
- Coffer Peach Business tracker.
- Pro-forma, calculated by inclusion of Spirit management accounts data for the seven week pre-acquisition period. EBITDA is adjusted for exceptional items as detailed in note 3 of the financial statements.