Company
LON:GNK
Greene King's principal activities are operating managed, tenanted and leased public houses, brewing beer, and wholesaling beers, wines, spirits and soft drinks.
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On top of England’s semi-final heartbreak, the bookmakers will also have benefitted from some of the pre-tournament favourites – Germany, Brazil, Spain, Argentina, Belgium – all coming up short
Shares in the pub operator fell on Thursday morning as it warned that industry headwinds – higher costs and weak consumer confidence – are showing no signs of abating
FTSE 250 closed also lower - just shy of 160 points lower at 20,684, while FTSE small cap market shed around 25 points
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The oil sector dominates the corporate news agenda on Thursday but it is also difficult to get away from matters pertaining to the World Cup
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Aside from Whitbread, updates are also due in the week ahead from cruises operator Carnival, packaging firm Bunzl, struggling floorings retailer Carpetright, and pubs operator Greene King
The World Cup is just around the corner and it’s not just football fans getting excited, the tournament also tends to boost sales for a number of companies
Equities should benefit from higher commodity prices and rising corporate activity, Morgan Stanley said.
The snowy weather, coupled with bigger industry-wide problems, means sales have taken a hit this year, but Greene King still expects to turn a profit of around £245mln, thanks in part to the sale of three “high-value” pubs
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A look at some of the biggest risers and fallers in London on Tuesday
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The pound is up 0.36% against the Euro at the time of writing, while it is up 0.07% against the US dollar
Greene King expects to deliver cost savings of £40mln to £45mln this year as it offloads less profitable sites and rebrands its pubs
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Britain's blue-chip benchmark finished around 27 points lower at 7,615.
The proposed £11.7bn takeover of Sky from Fox is all becoming a bit messy, so investors will be hoping the UK broadcaster can shed some light on whether a takeover from anyone is likely
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Week ahead includes updates from Diageo PLC, easyJet PLC, Dixons Carphone PLC, ASOS PLC, Sky PLC, JD Wetherspoon PLC, plus UK labour market and GDP data
Revenues jumped by 34% to £37.4mln last year, boosted by the addition of eight new pubs to the firm’s estate
Brexit has hit the pub industry as a weaker pound pushes up input costs and higher inflation puts a squeeze on consumers
Investments and investor services
Some of the biggest risers and fallers in London on Thursday
Greene King is facing "unprecedented cost increases" of £60mln this year due to higher wages, input costs, business rates and the apprenticeship levy
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The blue-chip benchmark closed in negative territory as sterling rose
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UK pubs are in focus on Thursday with results from Greene King and Marston's
