Adnams plc Interim Statement for the 6 Months to 30 June 2009

Highlights

• Turnover up 6.8%
• Operating profit £922,000 from £142,000 in 2008
• Interim Dividend up 1.6%
• Beer volumes up 2.4% against an industry decline of 2.8%
• Purchased 3 iconic Suffolk pubs
• Cellar&Kitchen Stores turnover up 27%
• Major refurbishment of Swan bedrooms

Commenting on the first 6 months of 2009, Jonathan Adnams, Executive Chairman, said:
“I am pleased to be able to report a much improved performance from Adnams for the first six months of this year, following a difficult trading period throughout 2008. Turnover is up 6.8%; operating profits at £922,000 are very sharply higher than the £142,000 achieved last year and interim dividend is up 1.6%.

“We reacted quickly to the economic downturn and having done so believe we are well placed for improved performance in 2009. Already this year we have shown support for our customers by holding Adnams beer prices for the remainder of 09. In March we made the first new pub acquisitions for almost 8 years when we bought three beautiful Suffolk riverside pubs. We continue to open our doors to visitors by holding a number of shareholder open days, whilst over 2700 people have enjoyed brewery tours. Just before Easter we completed the refurbishment of a number of Swan bedrooms with customers giving very positive feedback for the Lighthouse rooms. William Godell is a new beer that has been added to our award-winning range and we are planning to launch additional new beers in the coming months. Finally, we have been very active in our heartland – from high-profile partnerships with Newmarket Races and Ipswich Town Football Club through to supporting a wide range of events that are so important for local communities.

“Adnams is a business that builds for the long term and whilst we will remain suitably cautious in the face of economic uncertainties we will also endeavor to seize opportunities when we see them.”

A copy of the 2009 Interim Accounts has been posted to shareholders.

You can view a copy of the 2009 Interim Accounts by clicking here  (2mb PDF).