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SOUTHWOLD - British brewer Adnams PLC has reduced its debt to £11.7 million in the first half of 2025, down from £18.2 million in the same period last year, according to the company’s interim financial report released Friday.
The debt reduction was achieved through the disposal of non-trading assets and select trading sites, with debt expected to decrease further to approximately £8 million by the end of September. The company plans to conclude its strategic asset disposal program imminently.
Despite challenging market conditions, Adnams reported operating income before gains on disposals remained flat year-on-year at £1.5 million. Total revenue fell 5.7% to £30.1 million compared to the first half of 2024.
The company recorded exceptional costs of £1.2 million, primarily related to charges from the Extended Producer Responsibility scheme, a new regulatory requirement for packaging recycling costs.
Adnams reported an operating loss of £678,000 for the six-month period and a total loss of £1.38 million after taxation. Loss per share was 75.6 pence for ’A’ shares and 302.4 pence for ’B’ shares.
The company’s managed properties business grew 4% compared to 2024, with a 5.8% increase on a like-for-like basis. Its off-trade performance outperformed the market by 2% during the period.
Adnams has appointed Andy Driscoll as Chief Financial Officer, who will formally join on September 1, 2025, succeeding interim CFO Robin Paul.
The company’s pub trading estate now comprises 28 sites, with 19 operated by tenants and 9 managed directly by Adnams.
"With the benefit of a stable balance sheet and substantially lower debt, and by driving a much greater degree of commerciality across the business, we can look to the future with confidence," said Simon Townsend, Interim Chair, in the press release statement.
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