Everards profits on the up
Leicester brewer and retailer Everards has reported an increase in operating profit for its most recent year despite an decrease in turnover.
The company, saw turn-over decrease by £993,000 or 3.1% to £30.39m, but operating profit improved by 3.4% to £3.63m.
The rise in operating pro-fit came despite an impairment charge of £506,000 on seven properties.
Profit before tax was £2.37m compared to £2.72m the year before.
Gross margin on sales to licensees in Everards pubs was down 0.2% to £7.31m while rents receivable were up 2.4% to £6.32m.
In company accounts, Everards criticised the 8% increase in beer duty in December 2008 as a "classic stealth tax as pub customers will feel the impact on prices, but most will not be aware of the cause".
