Adnams sales hit £57.4m in FY21
Despite more ‘stringent’ restrictions in the early months of the year, trading months operated ahead of expectations
Adnams, the brewer, distiller and retailer, has revealed that sales rose by £7m to £57.4m in the 12 months to 31 December 2021, despite an operating loss of £0.9m over the period.
Despite more “stringent” restrictions in the early months of the year, trading months operated ahead of expectations, with the group noting that strong cost control and investment in its IT systems technology enabled it to mitigate the financial impact of the pandemic and position it well for 2022.
The group also reported a positive EBITDA of £2.6m in the period, and said that beer volumes were level with 2020.
Net debt was £11m, increasing in line with expectations over the previous year as the group paid down prior year HMRC commitments, restocked following closure, undertook maintenance in its pubs and reduced government support as it reopened.
Jonathan Adnams OBE, chairman said: “Once again, I was delighted to see how our customers adapted to multiple changes to government restrictions as the year progressed and people enjoyed our pubs and hotels with good cheer and a generosity of spirit towards our frontline colleagues.
“The loyalty and support of our customers throughout the pandemic has been vital and I would like to take this opportunity to record my heartfelt thanks to them”.
