Jonathan Neame of Shepherd Neame
Britain's oldest brewer Shepherd Neame has reported a rise in turnover and profits for the year ended 24 June.
The Kent brewer, which operates 327 pubs across the UK, saw turnover rise by 11.7% to £156.2m, with pre-tax profit rising 8% to £11.2m.
Shepherd Neame acquired 14 new pubs during the period including five from Village Green Restaurants and eight from EI Group at a cost of £24.8m.
The company also raised proceeds of £5.9m from the disposal of 15 pubs. Over the past five years, it has acquired a total of 22 pubs and sold 49.
Jonathan Neame, chief executive, said: "This has been a good year for the company with strong underlying performance and some great acquisitions that add real value to the company. We are pleased with the strategic and operational progress made in all areas of our business.
“We are mindful of the political and economic backdrop, but our strategic focus on investing for the long term, innovating and consistently delivering great pub environments and outstanding service for our customers will stand us in good stead.
“We remain confident that the actions that have been taken and our relentless pursuit of excellence will continue to deliver good long-term returns for our shareholders."
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