Greene King Forum

Panmure note out this morning on research tree.. "Greene King reported full year results ahead of expectations, with Sales £2,073m and adj PBT of £256.5m (PGe £249m) to give EPS of 69.9p (PGe 66.9p) and DPS of 32.05p (4.2% yield) – with the beat largely driven by cost savings from the integration of Spirit (£16.7m versus £12m). The company has had a strong start to the year (LFL +2.8%) but mentions likely short term Brexit impact on consumer confidence."

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Panmure note out on research tree.. "Greene King will release FY16 results (52 weeks to 01 May 2016) on Wednesday – the first leisure company to report post the referendum with its outlook statement likely to have implications for the wider sector. Like all consumer discretionary businesses, Greene King is vulnerable to a downturn in consumer confidence/spending; however, its freehold backing, low rent roll and selfhelp/integration initiatives make it less operationally geared than most of its peers."