Brewer, distiller, and retailer Adnams says it is continuing to explore a range of options to fund its future growth plans with the support of its advisors.
A recent rebrand of Adnams beers has freshened familiar brews
The company said while multiple factors continue to challenge the brewing, distilling, and hospitality sectors, total sales had increased 11% year on year in the three months to 31st March.
It added that falling inflation was improving demand in both the on- and off-trade, as well as softening some of the company’s cost increases.
“The company also confirms that it is continuing to explore a range of options to fund its future growth plans with the support of its advisors, and has received an encouraging response to the process,” Adnams said in its first quarter update.
“The board’s preferred option remains the raising of additional capital from another party and/or the sale of freehold assets to return capital to the company, however no decision has yet been taken.”
Adnams intends to file full-year accounts for the period ending 31st December, 2023, in late May, ahead of its planned annual meeting on 27th June.
