Greene King is in talks to buy more pubs after first-half results revealed it had met its debt reduction target while spending less than a third of the funds raised in its £208m rights issue in May. The Suffolk-based brewer and pub operator said results for the 24 weeks to October 18 showed a 4.6 per cent rise in like-for-like sales at its managed pubs division - which includes Old English Inns, Loch Fyne and the Hungry Horse chain - as customers reacted well to changes in the food menus.
Rooney Anand, chief executive, said Greene King had spent £62m of the money raised in the rights issue on a combination of acquisitions, including 11 pubs bought from Punch Taverns in July for £30.4m, and paying down debt.
