Financial Results

Shepherd Neame, Britain’s oldest brewer, today announces results for the 52 weeks ended 27 June 2015.
Financial performance:
  • Successful year with record operating profit
  • Turnover down 0.3% to £138.3m (2014: £138.7m) as we concluded the phased exit from contract brewing
  • Operating profit before exceptionals up +5.1% at £14.1m (2014: £13.4m)
  • Profit before tax and exceptional items up +9.4% to £9.6m (2014: £8.8m)
  • Statutory profit before tax up +22.1% to £9.4m (2014: £7.7m)
  • Basic earnings per share up +17.2% to 49.1p (2014: 41.9p) and basic earnings per share before exceptional items up +3.7% to 50.3p (2014: 48.5p)
  • Proposed final dividend per share up +3.1% to 21.4p (2014: 20.75p) making total dividends for the year of 26.7p (2014: 25.9p)
Operational highlights:
  • Strong performance across our pub estate
    • Like-for-like managed pub and hotel sales up +6.1%, with liquor up +4.3%, food up +7.0% and accommodation up +13.8%
    • Average EBITDAR1 per managed pub up +7.1%
    • Like-for-like tenanted EBITDAR up +2.4%
    • Average EBITDAR per tenanted pub up +4.1%
  • Core own and licensed beer volumes (excluding contract brewing) up +0.1%: with strong growth from the Whitstable Bay range and Samuel Adams Boston Lager
Current trading:
  • In the 10 weeks to 5 September like-for-like sales in Managed pubs and hotels are up +6.5% and like-for-like EBITDAR from Tenanted pubs to 29 August is up +1.8%
  • Core own and licensed beer volumes (excluding contract brewing) to 5 September up +8.6%
Jonathan Neame, Chief Executive, 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. 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.”

For further information, please contact:
Shepherd Neame Limited
Jonathan Neame, Chief Executive        Tel: 01795 532206
Mark Rider, Finance and IT Director
Marc Cohen / Christina Clark                 Tel: 020 7074 1800
Regional and Trade Media Contact:
John Humphreys                                    Tel: 01795 542051

Note: The Directors of Shepherd Neame Limited accept responsibility for this announcement.

For full details click here to download the press release.
If you would like hard copies of our latest Annual Report, please contact the company secretary.

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Annual Report 2015

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