Adnams speeds up pub disposal plans

The company, which reported a 145% increase in pre-tax profits to £3.2m on sales up 4.3% to £56.9m in 2012, sold two pubs last year, generating a profit on disposals of £267,000.

Adnams said that some of its pubs are “doing very well” in what he called “another tough year”.

But he added: “We have to recognise there are some pubs, particularly in rural areas, that are not doing so well. We shall probably sell five to six more this year. Not every premises that has historically been a pub is viable for the future.”

Adnams said there was “no ideal size” in mind for the company, which had 63 pubs at the year-end.

“It doesn’t matter to us if it’s 60 pubs or 45, rather that they are the right pubs. We want to own pubs that are trading well and sustainable for the long term.”

He said Adnams is “always keeping our eyes open” for potential acquisitions.

The company bought one last year — the White Horse in Blakeney, Norfolk.

Asked how the company is supporting its pubs, Adnams said: “We’ve been continuing to support them in several ways and the main way is that we’ve held the price of beer for the fourth year, and we’re going to be holding it for a fifth year.”

Cask-ale sales were just ahead of last year and overall sales of Adnams beers grew by 3.8%. Take-home sales grew 14%, reflecting the drift to the off-trade.
In Adnams’ Cellar & Kitchen shops, like-for-like sales grew 3.3% and overall sales increased 6.5%.