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Shepherd Neame drinks to economic growth in Kent as EBITDA rises 5.5%

26 September 2018 by
Shepherd Neame drinks to economic growth in Kent as EBITDA rises 5.5%

Shepherd Neame has reported a 5.5% increase in EBITDA to £25m having seen turnover rise marginally to £157m.

The brewer, which operates 321 pubs in Kent, said it was optimistic about the future thanks to major house building in the county alongside transport and infrastructure projects contributing to economic growth, offsetting any short term uncertainty.

In the year to 30 June 2018, profit before tax stood at £11.8m.

During the period Shepherd Neame acquired two London pubs, the Samuel Pepys and the Savoy Tap. Since the year end it has bought the Wheatsheaf in Farnham, the Cheshire Cheese in London and entered a contract to build a new pub hotel in the centre of the Ebbsfleet Garden City development.

The pub group added that it had experienced a strong start to the new financial year thanks to the warm summer, with like-for-like sales up 5.1% for the 11 weeks to 15 September 2018.

Chief executive Jonathan Neame said: "We have made some great acquisitions, during the year and since the year end, which further strengthens our managed estate and positions us well for the anticipated economic growth in our heartland over the next 15 years.

We have started the new year well as we have benefited from the warm summer weather, in particular in our coastal sites The coming year has more political and economic uncertainty than most of us can remember. But, whatever the short-term impact, we believe that we are well positioned to take advantage of opportunities that arise in our local region and in the wider industry."

Top 100: Jonathan Neame, Shepherd Neame >>

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