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by business editor Trevor Sturgess
Brewer and pub owner Shepherd Neame has hit out at the Government after bucking a national decline in beer sales with a record performance.
The 300-year old Faversham company boosted total sales by 5.2% in the 12 months ending June 25.
Turnover went up to £121.3m, while profit before tax and exceptional items rose by 9.7% to £8m.
Total beer sales were up 4% against a UK decline of 7.1%. Its own beer sales rose by 2.6% to 239,000 brewers' barrels (69 million pints).with Spitfire, Bishops Finger and Asahi Super Dry all doing sell.
Chairman Miles Templeman, former director-general of the Institute of Directors, hailed another strong performance, with record turnover and beer volume.
But he criticised the Government for "failing to recognise the importance of beer and pubs to the economy and the social and cultural life of the UK or to live up to its favourable statements at the time of the Election.
"We continue to make strong representation to the Government that the planned duty increases will make an unfair and unsustainable position even worse", he said.
Jonathan Neame, chief executive, said: "This has been a good year in a very challenging consumer climate.
"Our beer volume, food and accommodation sales have outperformed the market and our brand and pub portfolios have become stronger.
"However, the general economic and industry outlook remains challenging as we face the twin issues of decline in consumer incomes and inflation in our cost base."
Sheps, which owns 359 pubs, has started the new financial year well, with beer volume sales up 6.9% in the first 12 weeks. It also hopes to benefit from next year's Olympic Games.
Shepherd Neame announced a final 19p dividend, making a total of 23.8p for the year (2010: 23.1p).