UPDATE 2-Greene King profit beats view; summer trade strong

* Profit down 15 pct; May/June figures better

* To use rights issue funds for acquisitions

* Shares up 3.1 pct

(Adds company, analyst comment, shares, details)

By Rhys Jones

LONDON, July 2 (Reuters) - British pubs group Greene King (GNK.L) posted a smaller-than-expected fall in full-year profit and said recent trade had improved, driven by increased food sales and sunnier weather, sending its shares higher.

Greene King, which has around 2,500 pubs in England and Scotland, on Thursday said pretax profit for the year to May 3 fell 15 percent to 118.5 million pounds ($194.8 million) on revenues 1.3 percent higher at 954.6 million pounds.

Analysts expected a profit of 116 million pounds, according to Reuters Estimates.