A tale of two pub groups: Rising costs weigh down British pubs as Greene King struggles but Marston's manages to book a profit boost
Shares in pub group Greene King dipped by more than 3 per cent after it blamed rising costs and pub goers tightening their belts for a slide in profits.
Rising business rates and higher staff costs have been weighing on British pub groups recently.
But while Greene King said it had a ‘challenging’ first half of the year, rival Marston’s shrugged off the industry’s gloom with a near-quarter jump in profits and sales rising to over £1billion.
Greene King, the pub group behind Hungry Horse and Chef and Brewer brands, posted an 8 per cent fall in pre-tax profits to £127.9million for the six... read more
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