Sales up at Adnams' shops
Adnams' Cellar & Kitchen stores have seen turnover rise 27% in the first half of 2009, the Suffolk company has revealed in its interim results.
The sales boost comes after ambitious expansion plans were put on hold in the face of the economic downturn.
Executive chairman Jonathan Adnams explained: "For Adnams 2008 was a very difficult year, we had expanded our operations aiming for substantial growth and we had opened five new Cellar & Kitchen stores, which had to be nurtured through their early life.
"We reacted quickly to the economic downturn, but the costs of retrenching and reskilling contributed to a poor result. Having done this work, we are much better placed and confident of seeing an improved performance in 2009. In the event this is what we achieved during the first six months, and in a number of areas we did better than we had expected."
He added: "Adnams is a business that builds for the long term, and while we will remain suitably cautious in the face of economic uncertainties we will also endeavour to seize opportunities where we can."
Adnams' beer volumes grew 2.4% in the six months to June 30, and the company's overall turnover grew 6.8%, with operating profits up to £922,000 against £142,000 in 2008.