Belhaven integrating well says Greene King

January 23, 2006: The integration of Belhaven is proceeding well, new owner Greene King says in its latest financial update.

Releasing figures for the 36 weeks of January 8, the brewer said performance across its four trading divisions - Pub Company, Pub Partners, Brewing Company and Belhaven - had been in line with expectations.

Like-for-like sales in Pub Company were up 1.6 per cent, with the trading profit margin remaining strong at 20.8 per cent. Like-for-like turnover in Pub Partners was up 2.2 per cent, with margins at 43.7 per cent.

At Brewing Company, own-brewed volume was up 8 per cent, with sales of Greene King IPA up 5 per cent, Abbot Ale up 6 per cent and Old Speckled Hen up 10 per cent. Brewing Company also maintained good trading profit margins at 22.7 per cent.

Belhaven Best volume was up 8 per cent, with the integration of the Scottish brewery running to plan.

Greene King will announce its preliminary results for the year ended April 30, 2006, on July 11.