Brewer enjoys return to profit
SUFFOLK brewer Adnams has enjoyed a �1million turnaround in its fortunes in the first half this year.The Southwold-based company reported pre-tax profits of �882,000 in the six months to June 30, against losses of �148,000 a year earlier.
SUFFOLK brewer Adnams has enjoyed a �1million turnaround in its fortunes in the first half this year.
The Southwold-based company reported pre-tax profits of �882,000 in the six months to June 30, against losses of �148,000 a year earlier.
The firm, which employs about 320 and has been brewing at the town since 1872, saw turnover increase by 6.8pc to �23.4m, partly driven by a 19pc rise in volumes of take-home sales, while sales of cask beer to pubs rose 2pc, double the industry average.
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The first half of 2009 also saw the successful launch of two new bottled beers, Lighthouse and Gunhill, and a 45pc increase in sales from the company's shops and wine deliveries after a difficult trading period in 2008.
The six month period also saw the company acquire three Suffolk riverside pubs, the Butt & Oyster at Pin Mill, the Maybush at Waldringfield and the Ship at Levington.
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But despite yesterday's positive trading results, executive chairman Jonathan Adnams said the industry and particularly pubs still faced major challenges.
Full story - page 59.