“The voucher culture is here to stay,” the boss of pubs and restaurants group Greene King declared today.
Rooney Anand, chief executive of the 2,200 outlet group which includes the Hungry Horse and Old English Inns brands, said: “As a consequence of the downturn people are planning their weekly or monthly spending to a much greater extent. That means if they find an online coupon or voucher which lets them eat out more cheaply at a particular time of the week they will use it. It is something which has been big in the United States for the last 20 years and it is now here to stay in this country.”
Greene King’s profits rose 6% to £85.6 million in the half year to 13 October on revenues up 5% at £595 million. Current sales are up 3.5% against 2.2% a year ago and Christmas bookings are 13% ahead of last year’s.
