Register to get 5 free articles
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Shepherd Neame has revealed that revenues rose by 3.6% to a “record” £172.3m for the year ended 29 June, following strong performances in London and its tenanted pubs division.
It comes as divisional revenues in tenanted pubs grew by 5.1% to £35.6m during the year, with divisional underlying operating profits inching up to £12.8m from £12.6m in 2023.
As a result, statutory profits before tax at the pub group rose by 38.1% to £6.8m against the same period last year.
Meanwhile, underlying profits before tax grew by 4.4% to £7.9m and underlying EBITDA rose by 6.4% to £25.1m during the period.
Continued investment in the business came to a total of £14.6m during the financial year, which was primarily inward investments.
Jonathan Neame, CEO of Shepherd Neame, said: “We have seen further good progress in all three divisions. We have great beers and pubs, a strong balance sheet and a well-balanced and cash-generative business.
“We have a strong pipeline of pub developments and new opportunities in our heartland on-trade. We are optimistic about the consumer outlook and are well positioned for the future, notwithstanding the ongoing cost headwinds we face.”
