Adnams, the Suffolk brewer, pub operator and distiller, is considering undertaking a “major project” to enhance its “brewing capacity and flexibility”.
In a statement made at the company’s AGM yesterday, Adnams said the strong trading it experienced in the second half of 2013 “has continued into the start of 2014”.
However, the company said: “Though our beer sales have remained strong, some of our pubs continue to find conditions challenging and following sale of some of our pubs, our estate is of course smaller. We sold one pub at the start of the year and have a number of others currently for sale.”
Adnams added: “Whilst the economic news has been much more positive over most of the last year, some caution is inevitable. UK debt levels remain high and the Eurozone continues to face substantial challenges.
“Nonetheless we will continue to invest for the future and are currently considering a major project to enhance our brewing capacity and flexibility. This project is unlikely to start before 2015.”
The company said its hotels business has seen a “pleasing improvement in trading in 2014 compared to 2013”, while turnover in the shop retail business is ahead of 2013 and “some small changes to our shop estate are currently in progress”.
