Shepherd Neame Reduces Debt as Trading Remains Strong
Shepherd Neame, the Kent-based English regional brewer and pub owner, has now repaid and cancelled a further £1.25m of the £15m five year term loan that was taken out in May 2009, making a total of £5.0m repaid and cancelled during its current financial year.
Britain’s oldest brewer has reported that trading has remained strong and has benefited from the recent good weather. For the 48 weeks to 28th May 2011, own beer volume grew by 3.6%; like for like sales in managed houses grew by 7.7% and average income per tenanted pub grew by 0.6%. The company currently has 360 pubs in the South East, of which 316 are tenanted or leased and 44 managed.
Shepherd Neame will be reporting results for the 52 weeks ending 26th June 2011 in October 2011. Although still cautious about the general state of the economy, the company expects to announce performance in line with market expectations.
