Strong Trading By Shepherd Neame
Shepherd Neame, the Kent-based brewer and pub operator, has increased operating profit before exceptionals by 5.5% to £13.4 million and EBITDA by 4.3% to a record level of £20.5 million for the 52 weeks ended 28 June 2014. Turnover rose by 2.8% to £138.7 million as the company benefited from a very strong performance across its pub estate with like-for-like managed pub and hotel sales up 8.9%.
Shepherd Neame’s core own and licensed beer brand volumes (excluding contract brewing) increased by 6.1%, with strong growth from Bishops Finger, Whitstable Bay and Samuel Adams Boston Lager. The brewer’s aim is to continues to focus on its own and licensed brands and during the year it started the phased exit from contract brewing, ceasing bottled production of Kingfisher lager in October 2013
“I am pleased to report strong trading across all parts of the business, which has resulted in record EBITDA for the year,” says Jonathan Neame, chief executive of Shepherd Neame. “We have the right strategic framework and skills within the business, as well as a good pipeline of product innovation and pub developments, to continue this year’s progress and exploit the opportunities of this ever changing market.”
