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Adnams Interim Report & Accounts, August 2017

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Adnams Interim Report & Accounts 2017Summary of Chairman's Statement:

Our investment in the Adnams business will reach its highest ever level in 2017, a year in which we are once again seeing very strong growth in our beer and spirits volumes. Adnams turnover increased by 6% in this half year. Sales to shops and supermarkets were particularly strong and total beer volumes were up by 9% compared to 2016. Adnams spirits enjoyed a very substantial uplift in turnover with volumes 92% higher than in 2016. As we indicated in our 2016 accounts and at our AGM, our profits have been reduced as a result of the investment that we are making in transforming the Swan Hotel in Southwold. We are writing-off £721,000 of costs as part of the Swan redevelopment, in particular the costs of removing asbestos. Operating profit before this write-off was £177,000, with an operating loss of £544,000 after these costs, compared to an operating profit £624,000 in 2016. The Swan has been closed since the start of the year and we envisage it reopening in the early Autumn. Read more by downloading the Interim Report & Accounts here (pdf).    

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