Adnams profits tumble

07 April, 2009

Adnams has seen its profits dented by the pound’s weakness against the euro.

The wine merchant, which has also been hit by the on-trade’s 9.3 per cent decline in beer sales, is among many businesses which were affected by sudden exchange rate swings in a year which also saw two duty increases.

But the Suffolk company said it planned to ride out short-term difficulties by continuing to invest in its business. It opened two Cellar & Kitchen stores last year , which executive chairman Jonathan Adnams said have “great potential for the future and provide a new stream of earnings for the company”.

He added that the company remained “true to our values”. He continued: “We have also invested heavily in our brand, our staff and in our infrastructure. These actions have given us a powerful position for the future but have impacted the short term profitability of the business.”

Operating profits were £1.5 million in the 2008 financial and calendar year, down from £4.2 million in 2007.

Bookmark this

Site Search


English wine: a happy harvest for Christmas

All across England and Wales, vineyards are being harvested. Down winding country lanes come armies of welly-wearing conscripts wielding secateurs and buckets, ready to reap the rewards of our vines. Happily they come, their cheeks ruddy with pride. Half an hour later they’re crawling over muddy clods with lacerated hands, drenched in claggy juice and cold sweat, as if ploughing through an endurance race.

Click for more »
Upcoming events


Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know