Good weather boosts trading at Shepherd Neame
The good weather has helped Kent-based brewer and pub company Shepherd Neame post a 7.7% rise in like-for-like sales at its managed houses and a 0.6% increase in average income per tenanted pub.
Own beer volumes at the firm are also up by 3.6% for the 48 weeks to 28 May 2011.
The company said it had undertaken a valuation of its pub estates, which it aims to do in every seven years. Although it would not give a value for the 360 pubs included in the exercise, it said the valuation had resulted in a surplus book value of £68m. A simultaneous impairment has also been undertaken and will lead to an exception charge of £1.9m on 13 pubs.
Shepherd Neame will be reporting results for the 52 weeks ending 26 June 2011 in October.
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By Neil Gerrard
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