PUB chain Greene King has served up its fifth year in a row of record profits amid a growing thirst for eating out driven by the economic recovery.

The firm, whose brands include Hungry Horse and Loch Fyne among its 1,900 outlets, said underlying profits lifted 7.4 per cent to £173.1m in the 53 weeks to May 4 after a mix of growth through sales and acquisitions.

The brewer of Greene King IPA, Old Speckled Hen and Abbot Ale beers added 48 outlets at a cost of £24.3m to its managed pub estate in the last year, taking the key division to just under 1,100 outlets.

Bosses also expect to add between 50 and 60 managed outlets this year.

They said consumers were tending to go out less, but demanding more choice and more control over what they eat and drink.

The company added customers were treating themselves to more premium products, prompting it to broaden its offer in premium lager, craft ale, wine and cider.

Greene King, which dates back to 1799, said its like-for-like retail sales grew 4.1 per cent, with food sales up five per cent in the full year.

The overall figure is up 1.1 per cent in the first eight weeks of its new financial year, with an improvement in sales expected over the rest of the year.

Rooney Anand, chief executive, said: "We have delivered four years of record results since the credit crunch and maintained this momentum over the last 12 months by giving our customers what they want, in the right way and at the right price.

"There are now clear signs the UK economic outlook and consumer confidence are improving."