Adnams reports strong year
28 March, 2012
Brewer and pub operator Adnams has reported solid growth in sales and profits across its business for the year to end-December 2011.
The company recorded total sales of £54.6m, up by around 7% from £50.9m in 2010. Pre-tax operating profits stood at £3.3m, up 3% on £3.2m a year earlier.
Adnams singled out a 7% growth in beer volumes and a 13% increase in like for like sales at its Cellar & Kitchen brand as among its highlights for 2011.
Chairman Jonathan Adnams said: “The Adnams business enjoyed a good year in 2011, in continuing difficult economic circumstances.” He said Adnams was continuing to innovate via products like its new 2.7% abv beer, Sole Star, and would be freezing its beer prices for pubs and free-trade customers for the fourth year in a row.
Adnams was optimistic about the year ahead in spite ongoing challenges to the trade. “Despite sounding a note of caution about economic uncertainty, our response to the current conditions is to keep an eye on costs, but we will not be distracted from our long-term goals and will continue to invest for the future.”