'Beast from the East' drags on British pub firm Greene King's sales
Published Apr 12, 2018 07:35
'Beast from the East' drags on British pub firm Greene King's sales
(Reuters) - Pub operator Greene King Plc (L:GNK) reported a 1.8 percent drop in like-for-like sales for the 49 weeks to April 8 on Thursday, joining a string of British businesses that took a hit from the cold wave in the UK during February-March.
The owner of ale brands such as Greene King IPA, Old Speckled Hen and Abbot Ale said weather over the last 12 weeks impacted trading.
The weather system dubbed "the Beast from the East" brought rare snow and sub-zero temperatures to much of Britain in late February and early March bringing normal life to a standstill.
On an underlying basis, excluding the impact of snow, comparable sales in the year-to-date were 1.2 lower, Greene King said.
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Written By: Reuters
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