Pubs set to become too expensive to visit, warns brewer Adnams as cost of living crunch hits profits
Southwold brewer Adnams has said that the challenging economic environment is hurting pubs and said higher prices could soon make a visit too expensive.
It made a pre-tax loss of £1million in the six months to June 30, significantly narrowing the £3.3million loss posted a year ago.
Lower-than-expected beer sales in June contributed to a subdued market, Adnams said, as the Queen’s Jubilee ‘turned out not to be the wonderful on-trade event everybody was hoping for’.
Gloom: Southwold brewer Adnams made a pre-tax loss of £1m in the six months to June 30, significantly narrowing the £3.3m loss posted a year ago
A relatively large consumption of energy, water and raw materials means it has been affected by rising prices.
Chairman Jonathan Adnams said: ‘This situation is the last thing our industry needed after the previous two years.
‘We are highly conscious as to how much cost can realistically be passed directly to the customer before a visit to the pub becomes too expensive.’