November 30, 2017 / 8:37 AM / a year ago

British pub operator Greene King's profit hit by higher costs

(Reuters) - British pub operator Greene King (GNK.L) said on Thursday higher costs pushed its first-half profit down 8 percent.

The company, which brews beers such as Greene King IPA and Old Speckled Hen, said adjusted pretax profit for the 24 weeks to Oct. 15, fell to 127.9 million pounds ($172 million) from 139 million pounds a year ago.

“It was a challenging first half of the year with the UK consumer spending more cautiously and unprecedented cost pressures impacting on the pub sector,” the company said in a statement.

Reporting by Hanna Paul in Bengaluru; Editing by Saumyadeb Chakrabarty

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