Adnams hails retail arm after posting sales growth
Adnams said its shops are enjoying a “positive trend” as it announced a 29% in operating profits for the first half of 2014.
Turnover rose 15% to £30million, while operating profits grew to £862,000, but its unaudited pre-tax profits were halved from £1.3 million to £0.67 million due to reduced property profits.
Its overall beer volume sales grew 18% despite it putting up its prices for the first time in five years, while spirits volumes rose 40% from a small base.
Chairman Jonathan Adnams said: “The long period of holding our prices has helped to make this a palatable matter for our customers at a time when prices have been under pressure from the fast-growing numbers of small brewers and the longer-term trend towards reduced consumption.
“Our sales to supermarkets and other take home outlets have recently been in strong growth, though this slowed a little in the first half of 2014 to about 5%.”
Adnams said its retail business is in growth. It has opened a new shop in Aldeburgh, but closed another in Bloomsbury and also plans to close a concessionary store at a garden centre in Peterborough later this year. But it added that online shopping has “grown quickly”, with online ordering starting to overtake mail order.