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By Adnams, also posted in News on 25/03/19
Adnams has published its Report & Accounts for the 12 months to 31 December 2018, showing sales of £78.9m which are up 5.6% over 2017.
2018 was a year of considerable change for Adnams. After the very substantial investments in 2017, we had our first full year of trading at the transformed Swan Hotel and the first year of operation of our expanded brewery. We invested in our cutting-edge dealcoholisation plant, we planned and are developing our systems for the future, and we built new marketing capabilities.
Our focus has been on quality, on creating first rate drinks and first rate customer experiences and on making Adnams the best and most efficient organisation that it can be.
At £78.9 million our turnover was 5.6% ahead of 2017 and our beer volumes grew by 2.2%. Operating profit before highlighted items, at £1.6 million, was behind the £2.2 million that we made in 2017. Our EBITDA (Earnings before Interest Tax, Depreciation and Amortisation, a commonly used proxy for cash generation before capital expenditure) remained robust at £5.2 million, slightly down from £5.4 million in 2017, before charging the non-cash highlighted items.
Read the full commentary by downloading Adnams 2018 Report & Accounts (pdf) here.