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Pub operator Greene King says trading could get tougher on Brexit

Published 09/09/2016, 08:06
Updated 09/09/2016, 08:10
© Reuters.  Pub operator Greene King says trading could get tougher on Brexit

(Reuters) - Pub operator Greene King (LON:GNK) Plc said on Friday trading conditions could get tougher following Britain's decision in June to leave the European Union.

"While the broader implications remain unclear, a number of recent industry surveys have flagged risks to leisure spend and we are alert to a potentially tougher trading environment ahead," the company said in a statement.

The company, which brews ales such as Old Speckled Hen, said like-for-like sales grew by 1.7 percent for the first 18 weeks of the year, helped by European Football Championships and better weather.

In June, the company had flagged concerns that Brexit would weigh on consumer spending.

Separately, rival J D Wetherspoon Plc said profit before tax for the 52 weeks ended July 24 rose 3.6 percent to 80.6 million pounds.

Wetherspoon, which owns more than 950 pubs across Britain and Ireland, said it currently anticipate a "slightly" improved trading outcome for the current financial year.

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