Cains Beer Company sees profits and turnover tumble

25 July 2007 by
Cains Beer Company sees profits and turnover tumble

Cains Beer Company, which was formed from the merger of operator Honeycombe Leisure and Robert Cain & Company, is on course to complete the merger of the two companies by next month.

The completion of the merger can not come soon enough as the struggling Honeycombe side of the business made a £488,000 pre-tax loss for the year ending 29 April and turnover fell to £36.2m from £41.6m.

The company blamed the decline on the closure of loss making operations and some volume fall in the remainder of the business.

Sudarghara Dusanj, Cains Beer Company chief executive, said: "The results of the former Honeycombe Leisure business are in line with our expectations at the time of acquisition."

"Although we are in the early stages of our programme of change and investment in the business, good progress is being made and the implementation of our post acquisition 100 day plan is ahead of target."

Cains lager is already being supplied to around 60% of the newly formed company's 109 pubs.

Honeycombe secures future with reverse takeover >>

Honeycombe Leisure in talks with Liverpool brewer >>

Honeycombe Leisure shares suspended ahead of takeover announcement >>

By Christopher Walton

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