BREWER Greene King says it will save 12m by merging its operations with Morland, the Abingdon brewery which it bought last year.
The company delivered frothing profits last year, boosted by the performance of its leading IPA and Abbot Ale brands.
Profits before tax and exceptional items rose by 23 per cent to 54.5m, up from 46.5m a year earlier. Turnover rose to 414.5m, up from 292.6m. Following the 182m Morland takeover it moved production of the Ruddles and Old Speckled Hen brands to its Bury St Edmunds site and closed the Abingdon brewery. The company said merging two businesses would save 12m in its 2001 financial year.
Greene King also purchased 165 managed and tenanted pubs from Marston and has since integrated them into its own portfolio of pubs.
Following the two acquisitions, the company reviewed its entire pub estate and has sold 61 pubs. It has also transferred 100 smaller pubs from its managed estate to tenancy. In the last year the company opened 22 new sites under its Hungry Horse brand.
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