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News
Shepherd Neame brews up record volumes
Kent-based brewer Shepherd Neame has defied a downturn in the UK beer market to achieve record turnover and record beer volumes for the six months to 25 December 2010.
Turnover was up 1.6% to £61.7 million from £60.8m, while operating profit was flat at £6.4m. Pre-tax profit fell to £4.7m from £4.9m.
Chairman Miles Templeman said total beer volume increased by 0.6%, with strong performances from the company’s core portfolio including Spitfire, Bishop’s Finger and Asahi, although own-beer volume was down by 0.7%.
Spitfire volume grew by 1.4%, Bishops Finger by 7.9% and Asahi was up by 25.5%.
Overall like-for-like sales in the company’s managed estate grew by 3.6%, with growth in liquor, food and accommodation.
The brewer also reported an encouraging performance in the nine weeks since the year-end, with like-for like retail sales up 11.4%.
Alan Lodge, 16.03.2011