The boss of Britain’s oldest brewer has blasted ‘incoherent’ government policy as rising costs force it to put up the price of a pint.
Jonathan Neame, head of Shepherd Neame, said ‘nothing is easy’ as British businesses are ‘overtaxed and overregulated’.
The Kent-based firm, established in 1698, has 286 pubs and brews beers including Spitfire, Bishops Finger and Whitstable Bay.
But it said ‘the relentless upward pressure on labour costs’ from the National Insurance tax raid and increase in the minimum wage had led to higher bar prices, even if the consumer ‘only has so much disposable income’.
It said profits fell 7.9 per cent to £6.3million in the year to June 28, while sales dipped by 2.7 per cent to £164.3million.
Challenges: Shepherd Neame chief exec Jonathan Neame (pictured) said ‘nothing is easy for business’ as Britain is ‘overtaxed’ and ‘overregulated’
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
InvestEngine
InvestEngine
Account and trading fee-free ETF investing
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
