Adnams risk in in black

The firm, which has been brewing ale at the Sole Bay Brewery in Southwold since 1872, reported profits of £882,000 representing the first six months of 2009, having racked up losses of £148,000 in the identical interval hindmost year.

Revenues were up almost 7% to £23.4 million.

Chairman Jonathan Adnams said he was “pleased” with the “much improved performance” having in January admitted that the compact was “heavily exposed” to the turning-point fa‡ade the brewing producing as dozens of pubs close every week.

He said sales of cask beer were up 1% in the first half although sum total sales of beer in pubs were down 5.3%.

Adnams was also cautious of the future, saying: “It is unclouded that we visage a interval of sizeable pecuniary uncertainty.

“Whilst we be obsessed seen some resurrection after a dark start to 2009, it is completely feasible that we desire perceive another downturn in the not too afar future.”

He added that the compact desire “remain suitably cautious in the visage of pecuniary uncertainties” but at the identical period look to achievement opportunites representing expansion.

It bought its first new pubs representing eight years in March — the Butt & Oyster in Pin Mill, the Maybush at Waldringfield and the Ship at Levington.

The firm, which has sponsorship deals with Ipswich Town FC and Newmarket racecourse, raised its dividend close by 1.6%.

Sales at its Cellar & Kitchen stores were up 27%.