Member Article

Profits up at Britain’s oldest brewer as new offering proves popular

Brewer and pub company, Shepherd Name has seen profits increase more than a fifth as long term investments reach fruition.

In the year to June, the Faversham-based firm reported a pre-tax profit increase of 22.1% to £9.4m, from £8.8m.

The country’s older brewer, which owns brands such as Spitfire and Bishop’s Finger, saw turnover fall 0.3% to £138.3m, from £138.7m.

CEO Jonathan Neame commented: “This has been a successful year for the Company with positive evolution of our strategy and a strong financial performance. We have built a high-quality asset base over a long period of time and this year have made a number of exciting new additions to our beer and pub portfolios.

Shepherd Neame’s like-for-like managed pub and hotel sales rose 6.1% during the period, with liquor up 4.3%, food up 7.0% and accommodation up 13.8%.

Jonathan added: “Whilst the industry remains very competitive we are confident that we have a robust strategic, geographic and financial base from which to continue to grow.”

Shepherd Neame runs 338 pubs across the South East, of which 286 are tenanted or leased and 52 managed, employing 1,200 people in the region.

This was posted in Bdaily's Members' News section by Ellen Forster .