Pubs are becoming too expensive to visit, brewer Adnams warns as cost of living hits profits
Southwold brewer Adnams has said the challenging economic environment is hurting pubs and said higher prices could soon make a visit too expensive.
It posted a pre-tax loss of £1 million in the six months to 30 June, significantly reducing the loss of £3.3 million a year ago.
Lower-than-expected beer sales in June contributed to a subdued market, Adnams said, as the Queen’s anniversary “didn’t turn out to be the great hospitality event everyone had hoped for.”
Gloom: Southwold brewer Adnams made a pre-tax loss of £1million in the six months to 30 June, significantly reducing the £3.3m loss a year ago
Due to a relatively large consumption of energy, water and raw materials, it is suffering from rising prices.
Chairman Jonathan Adnams said: “This situation is the last thing our industry needed for the past two years.
‘We are well aware of how much costs can realistically be passed on directly to the customer before a visit to the pub becomes too expensive.’