After posting a successful and profitable report for the current fiscal year's first six months, and revealing that less than a third of the funds raised after a 208 Million Pounds right issue in May had been spent so far, Greene King is now looking to acquire more pubs and expand even further.

The brewer and pub operator posted a 4.6% hike in like for like sales for the 24 weeks up-to October 18, at all its managed pubs division, including Old English Inns, Loch Fyne and the Hungry Horse chain. Customers, the company reported, had responded positively to the changes offered in the food menus.

"We're quite active in discussions with a number of owners of assets in the sector", said Chief Executive Rooey Anand, after revealing that the firm had spent a mere 62 Million Pounds of the total funds raised in the right issue, on acquisitions, including the 11 pubs that were purchased from Punch Taverns for 30.4 Million Pounds in July, and repaying pending debts.

Greene King managed to pull its net debt down to 211.5 Million Pounds from the earlier huge figure of 1.35 Billion Pounds.

The firm's half yearly results have been in-line with the analysts' expectations. A 4.3% increase was recorded by the period's overall revenue as well, which rose to 464.5 Million Pounds.

Shares of the company surged by 18.7 pence to trade at a new high of 420 pence.