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UK: Shepherd Neame posts 4.3% rise in profits

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The UK regional brewer and pub operator, Shepherd Neame, has reported pre-tax profits of £8.7m for the 52 weeks to 28 June, 2003, up 4.3% from the previous year. Sales rose by 7.3% to £84.5m.

Trading profit, excluding property profits, rose by 8.2% to £8.3m while earnings per share, also excluding property gains, were up by 7.9% to 43.9 pence.

Total brewing volumes rose by 7.5% with sales of its flagship brand, Spitfire, increasing by 24.9%. Turnover from the company's managed pubs rose by 11% with like-for-like sales rising by 7.9%.

The company said that the good weather since the year end had created a positive trading environment and it had continued to record growth in beer sales volumes against the same period last year.


Sectors: Beer & cider

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