The U. K. based pub group Greene King expressed on Thursday it is planning to cultivate its estate of managed pubs and on the other side attenuate its leased pub estate with an effort to incline the revelation to make it a more profitable eating out market.
The brewer and pub owner expressed that its pretax profit before taking into account the exceptional items, was GBP123 million in the year to May 2, which is up by 3.8% from GBP118.5 million since last year and in accord with analysts' predictions. However the group seems to hasten the speed of the change to aim precisely on the retail and important brands.
For reaching this level the company is planning to grow its managed pub business by one quarter approximately 1,100 pubs by the next three to five years. At present the group is operational with its 888 managed pubs. The group is into brewing and has owned the pubs legacy since 200 years and has managed its own pubs and restaurants entailing the renting of leased out pubs across the U. K.