Shepherd Neame CEO Warns of Rising Costs and Regulatory Pressures
Jonathan Neame, the head of Shepherd Neame, Britain's oldest brewer, has spoken out about the challenges facing the company and the wider business community. With 286 pubs and popular beers like Spitfire and Bishops Finger, the brewer is feeling the pinch of rising costs and regulatory pressures.
Neame attributed the recent cost surge to various factors, including the rise in UK government energy duties, inflation, and supply chain disruptions. These issues, coupled with the National Insurance tax raid and an increase in the minimum wage, have put significant pressure on the company's finances. As a result, the price of a pint has started to rise.
The brewer's financial results reflect these challenges. Profits fell by 7.9% to £6.3 million in the year to June 28, with sales dipping by 2.7% to £164.3 million. Despite these setbacks, Neame criticized the government's policy as 'incoherent', suggesting that the current environment is making it difficult for British businesses to thrive.
Shepherd Neame, with its rich history and iconic beers, is facing headwinds due to rising costs and regulatory pressures. The company's profits and sales have dipped, and the price of a pint is increasing. Jonathan Neame's criticism of government policy highlights the broader challenges faced by British businesses in the current economic climate.
