Pubs set to become too expensive to visit, warns brewer Adnams as cost of living crisis hits profits
Southwold brewer Adnams said the tough economic environment is hurting pubs and said higher prices could soon make a visit too expensive.
It recorded a pre-tax loss of £1m in the six months to June 30, significantly reducing the £3.3m loss it posted a year ago.
Weaker-than-expected beer sales in June contributed to a sluggish market, Adnams said, as the Queen’s Jubilee “turned out not to be the wonderful business event everyone was hoping for”.
Gloom: Southwold brewer Adnams recorded a pre-tax loss of £1million in the six months to June 30, significantly reducing the £3.3million loss recorded a year ago
A relatively large consumption of energy, water and raw materials means that 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 very aware of the cost which can realistically be passed on directly to the customer before a visit to the pub becomes too expensive.”