Market research shows Adnams' beers are increasingly appealing to a younger audience and a wider social spectrum without losing any support from their traditional enthusiasts, company chairman Simon Loftus has told shareholders.
The Suffolk-based family brewer and pub owner announced operating profits up by more than 15% to £2.92m as turnover for the year to December 31 2001 rose 3.65% to £33.8m. Pre-tax profit was up 36.8% to £3.06m after a £360,000 rise in profits on property sales.
In his chairman's statement to accompany the figures, Loftus said the company's market research "has unequivocally endorsed the success of our new advertising campaign in terms of brand awareness, brand reach and positive consumer reaction.
"Adnams is now firmly established as one of the key brands in our chosen markets for classic English beer. Distribution and sales have continued to forge ahead, albeit at a slightly slower rate than last year, and Adnams was rated the fastest-growing beer brand in the UK by the market analysts at AC Nielsen. We believe that we shall maintain that rating this year."
Loftus said that while thousands of pubs are likely to change hands during the coming months, "Adnams is a brand which commands its place on the bar, irrespective of who owns the pub." The company was also aiming to be a "must stock" brand in the take-home sector, Loftus said, and the company has commissioned a bespoke Adnams bottle and designed a radical new look for its bottles and cans, due to be launched in the summer. The new look should help provide a platform to develop export markets for Adnams beers, Loftus said.
The most recent employee survey showed that 98% of the workforce said they were proud or extremely proud to work for Adnams, Loftus said. He told shareholders he wanted the same to be true of people who invested in the company: "Our understanding of 'shareholder value' is not the usual short-term interpretation of that much abused phrase. Alongside the determination to provide a proper return on your investment, decent dividends, steady capital growth, we intend to build a company of which you are proud to be part, proud of our values, proud of our products, proud of all that we do."
The Suffolk-based family brewer and pub owner announced operating profits up by more than 15% to £2.92m as turnover for the year to December 31 2001 rose 3.65% to £33.8m. Pre-tax profit was up 36.8% to £3.06m after a £360,000 rise in profits on property sales.
In his chairman's statement to accompany the figures, Loftus said the company's market research "has unequivocally endorsed the success of our new advertising campaign in terms of brand awareness, brand reach and positive consumer reaction.
"Adnams is now firmly established as one of the key brands in our chosen markets for classic English beer. Distribution and sales have continued to forge ahead, albeit at a slightly slower rate than last year, and Adnams was rated the fastest-growing beer brand in the UK by the market analysts at AC Nielsen. We believe that we shall maintain that rating this year."
Loftus said that while thousands of pubs are likely to change hands during the coming months, "Adnams is a brand which commands its place on the bar, irrespective of who owns the pub." The company was also aiming to be a "must stock" brand in the take-home sector, Loftus said, and the company has commissioned a bespoke Adnams bottle and designed a radical new look for its bottles and cans, due to be launched in the summer. The new look should help provide a platform to develop export markets for Adnams beers, Loftus said.
The most recent employee survey showed that 98% of the workforce said they were proud or extremely proud to work for Adnams, Loftus said. He told shareholders he wanted the same to be true of people who invested in the company: "Our understanding of 'shareholder value' is not the usual short-term interpretation of that much abused phrase. Alongside the determination to provide a proper return on your investment, decent dividends, steady capital growth, we intend to build a company of which you are proud to be part, proud of our values, proud of our products, proud of all that we do."
