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British brewer Greene King's full-year profit beats expectations

Reuters - UK Focus

July 1 (Reuters) - British pubs operator Greene King Plc (LSE: GNK.L - news) reported a better-than-expected full-year profit and said its retail business generated revenue of more than 1 billion pounds for the first time.

The group, which operates almost 1909 pubs, including Hungry Horse, as well as breweries, reported a pretax profit of 168.5 million pounds ($264.51 million) for the 52 weeks ended May 3.

That compared to analysts' estimate of 166.76 million pounds, according to Thomson Reuters I/B/E/S.

Revenue rose 3 percent to 1.31 billion pounds.

($1 = 0.6370 pounds) (Reporting by Aastha Agnihotri in Bengaluru; Editing by Anupama Dwivedi)