Shepherd Neame FY revenues rise 3.6% to ‘record’ £172.3m
Continued investment in the business came to a total of £14.6m during the financial year, which was primarily inward investments
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.”
