Shepherd Neame, the Kent-based brewer and pub operator, today announces results for the six months ended 26 December 2009.
* Turnover up 8.2% to £60.8m (2008: £56.2m)
* Operating profit up 24.2% to £6.4m (2008: £5.1m)
* Operating profit before exceptionals up 17.2% to £6.4m (2008: £5.5m)
* Profit before tax up 38.5% to £4.9m (2008: £3.6m)
* Earnings per £1 share up 38.6% to 28.7p (2008: 20.7p)
* Interim dividend up 4.4% to 4.75p per £1 ‘A’ Ordinary Share (2008: 4.55p)
* Beer volume up 7.9%
* Managed house like-for-like retail sales up 2.4%
Miles Templeman, Chairman, commented:
“This has been a good trading period for the company with record turnover, record beer volume and strong net cash inflow from operating activities. All parts of our core business have performed strongly and we have consolidated recent investments very satisfactorily.
Nonetheless, we remain cautious about the impact on consumer expenditure of further potential rises in excise duty, VAT and other taxes over the next year or two and by the impact of further potential regulation on the sector.”