Adnams' retail arm back in the black
Suffolk brewer Adnams says it has returned its retail business to profit after announcing 9.1% sales growth in 2014.
Like-for-like sales were up by more than 7% across its 12 stores in 2014, and it has ambitious plans to grow the estate to 20.
Overall sales climbed to £66 million in 2014, according to an accounts report published today, with an operating profit of £3.8 million.
Chairman Jonathan Adnams said: “We recorded our highest ever brewing year, saw continued growth in sales of our spirits and achieved profitability within our shops. We were delighted to receive a number of awards for our beers and spirits.
“The economic outlook is by no means certain, however we are making a confident statement in announcing the start of a major and innovative project to expand and improve our brewery and distillery.
“We have regularly made the point that Adnams is about the long term, that is our commitment and it will remain the case.”
Beer volumes were up 9.7%, the burgeoning spirits arm grew 37% and debt dropped £2.7 million to £8 million.