Shepherd Neame profits rise 9.6%

March 30, 2007: Shepherd Neame have announced profits before tax and exceptionals up 9.6% to £5.1 million in the six months to December 30.

Turnover rose 3.5% to £50.6 million with earnings per share before exceptionals up 14.5%.

Chief executive Jonathan Neame heralded the strong results, adding: "This has been a period of record investment as we continued to increase and expand the quality of our pub estate with the acquisition of nine freehold pubs.

"We have made very good progress with our ‘outside area’ investment programme in advance of the smoking ban and expect to have completed projects at half our pubs by July 1.

"Total beer volumes were up 3.4% with growth in sales of our core brands, and continued excellent progress with Asahi Super Dry. We are confident that trading will continue to show similar progress in the second half.”