UK: Shepherd Neame sees 29th year of growth
By just-drinks.com editorial team | 6 October 2004
Shepherd Neame, the UK brewer and pub operator, today announced that its full year turnover was up 6.9%, leading to pre-tax profits of £9m, up 9% on a year previous and the company's 29th consecutive year of profit growth.
Managed houses like for like sales were up 7.1% and total beer sales were up 5.1%. Sales of the company's beer brand Spitfire were up 10.2%
Bobby Neame, Chairman, said: "These are excellent results. The company has performed well across all its operations - in brewing, in managed houses and in tenanted pubs. We strongly believe that being a vertically integrated brewer produces a sustainable level of profit and an appropriate balance of risks. We have a firm base for the future and a proven and successful strategy with which to move forward."
Jonathan Neame, Chief Executive, added: "Trading during the summer has been more difficult than last year. However, this has been a year of major investment - in the brewery, in the pubs and in our brands. We have built a strong platform for the future and remain confident that we are in great shape for continued profitable growth."