Interim Results

Announcement of Interim Results 2014

Shepherd Neame, the Kent-based brewer and pub operator, today announces results for the 26 weeks ended 27 December 2014.
Highlights include:
  • Strong performance across pub and hotel estate
    - Managed house like-for-like sales up 6.8% (2013: +7.5%), with liquor up 4.9%, food up 7.8% and accommodation up 14.5%
    - Tenanted like-for-like EBITDAR* up 3.4% (2013: +1.5%) and average EBITDAR per pub up 4.0% (2013: +4.4%)
  • Turnover up 1.5% to £73.5m (2013: £72.5m)
  • Operating profit before exceptionals up 4.2% to £7.1m (2013: £6.8m)
  • Statutory profit before tax up 22.7% to £5.0m (2013: £4.1m)
  • Basic earnings per share up 15.6% to 26.7p (2013: 23.1p**)
  • Interim dividend increased to 5.30p per share (2013: 5.15p per £1 share)
* Earnings before interest, tax, depreciation, amortisation and rent payable
** Prior year comparative has been restated for the share capital reorganisation
Jonathan Neame, Chief Executive, commented:
“I am pleased to report strong trading across the business, particularly in our inns and hotels, and good like-for-like performance in the tenanted estate. There has been a higher quality mix of pub revenues and greater share of own beer volume and it is pleasing to note that operating margin before exceptional items increased by 0.3% in the period. We are pursuing a consistent long-term strategy to build the quality of our pub portfolio and brand assets.”

For full details click here to download the press release.

Interim Report 2014

The Interim Report is available in two versions:

Full colour version
Black & White version

Interim Report to Family Council