Shepherd Neame reveal pretax profits of £5.4m
Kent Brewer, Shepherd Neame announced pre-tax profits of £5.4 million in their latest six monthly figures.
The half year financial report compiled up to December 25th marks the first ‘in profit’ figures from before the pandemic. They compare to the groups recorded losses of £7.2million from the previous year. Group debt, it was announced, had also been reduced from £92.5million to £82.4m.
The results permitted for the first dividend payment in almost three years.
The brewer which operates more than 300 pubs across the South of England, accompanied the figures with a warning that rising employment and “extreme volatility” particularly in the energy market meant continued profitability could not be relied on.
While returns bounced back to pre-pandemic levels profit margins have yet to fully recover amid inflation pressures.
The group said its margins will continue to be impacted by soaring energy costs and wage bills, with the Ukraine crisis and UK tax hikes compounding the problem.
Shepherd Neame CEO Jonathan Neame said: "We have a robust and resilient business and a strong platform from which to build. We move forward with confidence and are pleased that we can now resume investment across our business at pre-pandemic levels.”
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