Shepherd Neame profits rise 25%

08 October 2010 by
Shepherd Neame profits rise 25%

Kent brewer Shepherd Neame has seen pre-tax profits climb 25% to £8.7m for the year to 26 June 2010.

The company, which operates about 360 pubs and brews cask ales including Spitfire, also recorded a 5.4% increase in annual turnover to £115.4m.

Shepherd Neame's managed pubs like-for-like sales rose 2.8%, with food sales in the division up 3.9%. Overall revenues in the tenanted estate were up 1.8%.

Total beer volumes were up nearly 5%, thanks to off-trade sales, althought there was also a 6.2% increase in local free trade sales.

Jonathan Neame, Shepherd Neame's chief executive, praised his firm's strong performance, but warned: "While we are pleased with the performance this year, we are very aware of the fragility of the economy, the inflationary pressures from commodity prices and the inevitable impact of tax increases on consumer spending in 2011."

Shepherd Neame's chairman questions pubs minister role >>

By Neil Gerrard

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