Adnams bullish about the future

Adnams shareholders have heard that the brewer and pubco is meeting the challenges of trading in 2008 and looking forward to the future with confidence at its AGM today.

Executive chairman Jonathan Adnams said turnover, profits and market share had all grown at the company during 2007 - despite the introduction of the smoking ban, the poor weather and the increasing cost of raw materials.

"In this difficult environment our robust performance is a testament to the strength of our brand, the quality of our people, our ability to innovate, and our track record of investing in the business to support future growth," Adnams said.

"Our infrastructure and brand development work of recent years has positioned Adnams well to capitalise upon a growing consumer trend - the market for green, ethical and fair-trade goods is valued at £15bn and growing at nine per cent per annum.

"Adnams has credibility and a strong reputation in this market, not only for the innovative nature of our infrastructure renewal but also because of our products."

Last week the company launched East Green, the UK's first carbon neutral beer, while 20 per cent of its wine portfolio is either organic or biodynamic.

"We have an ambitious strategic plan in place to more than double operating profits over the next five years and believe that by building on the strength of the Adnams brand and by our commitment to doing the right thing we will be able to deliver improving value for shareholders," continued Adnams.

"We believe Adnams is well-positioned to meet the challenges of 2008 and overall we look to the long-term future with confidence."