Brewer hopeful of strong second half of the year after weather hits sales
PUBLISHED: 08:31 25 April 2018 | UPDATED: 08:31 25 April 2018
An East Anglian brewery says major investments and bad weather are set to weaken its results for the first quarter of 2018.
Southwold brewer Adnams said the bedding-in of investments, buying a new dealcoholisation plant ,as well as tough trading in pubs during March will mean its results for the first three months of the year come in behind those for 2017.
However, beer sales were up 5% on 2017 and spirits up nearly 30% on the same period.
The company said the transformation of the Swan Hotel in Southwold had been positive and cost savings had been made which should bear fruit later in the year.
In a statement at its AGM on Monday, Adnams said: “As we have grown the retail side of our business, notably hotels, shops and managed inns, our profit has shifted towards the second half of the year and we anticipate a stronger second half to 2018.”