Adnams PLC AGM Statement (4542E)
June 30 2023 - 6:00AM
UK Regulatory
TIDMADB
RNS Number : 4542E
Adnams PLC
30 June 2023
Adnams plc - AGM Statement
Adnams plc
30 June 2023
AGM statement
At the AGM held on Friday 30th June 2023 the directors of Adnams
shared that the company had delivered an operating loss of GBP1.2m,
against strong economic head winds. The business was grateful to
their customers, shareholders and employees for their unwavering
loyalty and support throughout the year.
They communicated that in the first 5 months of 2023 the
business had continued to experience challenging trading, with
revenue levels evidencing the impact of the low consumer confidence
levels experienced across the entire country. In June, the desire
for customers to visit both rural and coastal locations, has grown,
with Adnams pubs and retail businesses benefitting. June also
showed signs of more positive trading in the on-trade business,
growing volumes and customer numbers.
As for all businesses in the sector, the outlook for the
remaining six months of the year is far from certain, as the
economy hopes to recover from the impacts of the cost of living
crisis, inflation and continued high interest rates.
Sales remains the key focus into the second half of the year,
using systems, together with data, to drive revenue growth and more
efficiencies across all operations.
The long term nature, supported by its purpose and values, will
keep this brand led business innovating, appealing to customers
through its products and experiences for many years to come.
Jonathan Adnams OBE
Chairman
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END
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