Profit down 13% at Wadworth

Devizes-based Wadworth saw a 1% drop in turnover to £49.609m in its most recent year to 30 September 2008, but operating profit was down 13% to £8.03m after a poor summer combined with higher costs.

Chairman Charles Batholomew said tenanted contribution was similar to the year before and its own beer sales were level with cider, with minerals and wine down slightly. He said, however, that a significant decline in lager had continued. Its managed division ended the year 10% down with the poor summer not helping country pubs.

Liquor sales were down 5.4% and food sales were ahead by 3.2%. The company had invested £2.9m in capital projects. He said: "I think we now have a better offering then we had a year ago, and the emphasis on good quality food at reasonable prices is starting to pay off. Four out of six summer months showed improvement on last year and it was the two months with significantly worse weather than last year that contributed to the fall in profits."

Batholomew said national sales were level with a large range of the company's draught products sold through this side. Overall brewing volumes were down by 3% due to a fall in contract brewing. Horizon, Henry's IPA and Bishop's Tipple had all shown "excellent increases" in draught.

The company's new visitor centre has seen 17,000 visitors and this "definitely broadens the awareness of our beers to a much wider public", Bartholomew said.