Profits dip at Shepherd Neame

March 26, 2008: Shepherd Neame has reported profits before tax down 2.3% to £4.7 million for the six months to December 29, 2007.

Turnover rose 3.7% to £52.4 million and operating profit was up 0.7% to £5.7 million.

“Shepherd Neame has delivered a solid and resilient performance over the past six months against a challenging background of subdued consumer spending, significant pressure on input costs, impact from the smoking ban and a wet summer during 2007," said chief executive Jonathan Neame.

"We believe the current difficult trading conditions will persist throughout 2008, but we are investing in the business for the long term and are confident that the quality and profile of our pubs and brands will enable the company to continue to outperform the market.”