Pub firm Greene King cautions Brexit to weigh on consumer spending

The company, which brews ales such as Old Speckled Hen, said it would look to mitigate the impact of the Brexit decision, including that arising from its exposure to foreign exchange movements due to overseas sourcing.

However, enlarged by its acquisition of peer Spirit Pub, Greene King said like-for-like retail sales rose 1.5 percent in the 52 weeks to May 1, ahead of the 1.3 percent growth seen across the wider market.

Since the start of the new financial year, like-for-like sales were up 2.8 percent, it added, despite consumers having appeared more reluctant to spend discretionary income ahead of the UK referendum.

(Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)