Shepherd Neame has announced record results and what it describes as impressive progress against strategic objectives for the 52 weeks to June 25. Underlying profit before tax was up 10.7% to £10.3m off turnover of £139,9m, up 1.2%.
Highlights included a 4.4% rise in managed pub and hotel sales, with liquor up 3.1%, food up 4.2% and accommodation up 11.7%.
Core own and licensed beer volumes (excluding contract brewing) were up 0.3%, with excellent growth from the Whitstable Bay Collection.
Chief executive, Jonathan Neame (pictured), said: “I am delighted to report a record set of results, with managed pubs our key driver of growth, and an impressive performance against our strategic objectives.
“In recent years, we have worked hard to improve the quality of our pub estate and modernise our brand portfolio. We have created a much stronger business with sustainable cashflows and the skills and ambition for further growth. We have made a good start to the new financial year, with a particularly strong performance from our coastal pubs.”
