Ad­nams sales fall 40pc as it warns on outlook for pubs

The Daily Telegraph - Business - - Business - By Han­nah Ut­t­ley

SALES at brewer and pub chain Ad­nams slumped 40pc in the first half of 2020 as it warned the in­dus­try faces more pain ahead.

The South­wold-based firm clocked up sales of £20.9m in the pe­riod, down from £34.7m a year ear­lier, af­ter pubs were forced to shut com­pletely for months dur­ing lock­down.

Losses widened to £3.2m, from £939,000 dur­ing the same pe­riod in 2019.

Jonathan Ad­nams, the chair­man, praised Trea­sury sup­port in­clud­ing the tax­payer-funded fur­lough scheme, which cov­ered the wages of the vast ma­jor­ity of staff dur­ing the height of the cri­sis, but said: “There re­main sub­stan­tial hur­dles ahead be­fore UK pubs can re­turn to any­thing like their pre­vi­ous trad­ing on a sus­tain­able ba­sis.”

Ad­nams is best known for its ales such as Broad­side and Ghost Ship, but also makes spir­its in­clud­ing gin and vodka and op­er­ates a num­ber of pubs, which are mainly based in South­wold, Suf­folk.

The firm did not pro­pose an in­terim div­i­dend given the con­tin­ued un­cer­tainty sur­round­ing coro­n­avirus but said it would keep its div­i­dend pol­icy un­der con­tin­u­ous re­view.

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