Daniel Batham & Son, the West Midlands brewer and pub operator, saw pre-tax profits fall 4.8% to £1.3m in the year to 30 June 2013.
Turnover was almost unchanged at £5.2m. Operating profit for the company, which runs 11 managed pubs, fell 1.9% to £1.3m.
Dividends of £304,000 were paid in the year (2011: nil) - directors recommended a final dividend of £472.05 per share.
Bathams said: “The group continues to review its brewing processes and public house operating costs to satisfy consumer requirements and to comply with stringent regulation.”
