Adnams downbeat on economy despite revenue and profits increase
27 March 2013 by Neil Gerrard
Brewer, pub company and retailer Adnams is downbeat about the prospects for the economy, despite seeing revenues and profits increase for the year to December 2012.
The Suffolk-based company saw revenues rise 4.3% to £56.9m for the period, while operating profits were up from nearly £3.3m to nearly £3.4m.
Beer volumes were up by 3.8% and turnover in the company's Cellar & Kitchen retail business.
The company said it was "difficult to be too positive about an economy where things feel hard and give little sign of being about to improve".
It added that 2013 had begun as 2012 had ended with difficult trading conditions made worse by January snow.
But Adnams added that its long-term approach would stand it in good stead for the future.
