Adnams posts pre-tax profit of £882,000 for H1 of 2009
Suffolk-based brewer and pub operator, Adnams has reported a much-improved £1 million turnaround in its fortunes for the first half of the year.
The company registered a pre-tax profit worth £882,000 for the period of six months ended June 30 as compared with a loss of £148,000 for the same period in the previous year.
Turnover soared 6.8 per cent to settle at £23.4 million and operating profit stood at £922,000, up from £142,000 in 2008.
Adnams, which has been brewing since 1872, possesses a workforce totalling 320.
During the first 6-month period of the current year, the company launched two new bottled beers viz. Gunhill and Lighthouse.
After facing difficult trading period in 2008, the company enjoyed a 45 per cent rise in its sales.
Adnams also expanded its business by acquiring three pubs viz. the Ship, the Maybush and the Butt & Oyster.
Nevertheless, Jonathan Adnams, the executive chairman of the company is still worried about major challenges in 2010.