Speckled Hen sales boost Morland
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Your support makes all the difference.Strong sales of Old Speckled Hen bitter and a debut performance from the recently acquired Exchange Diners were behind a 8.9 per cent rise in interim profits at regional brewer Morland.
Reporting adjusted half year profits of pounds 6.6m, the company said the purchase of the US-style Exchange Diners from Allied Domecq earlier this year had significantly improved the group's pub estate. More than 25 per cent of its retail turnover now comes from food sales. Mike Watts, chief executive, said the 24 diners, for which Morland paid pounds 32m, had been quickly integrated and were trading in line with expectations.
The company said its other branded concepts such as Artists Fare, Newt & Cucumber and Wig & Pen continued to improve sales.
In brewing, total sales of Old Speckled Hen rose by 14 per cent. However, the real star was the take-home sector where sales of the beer grew by 21 per cent. Old Speckled Hen is now exported to 17 countries.
The company also complained about the cross-channel beer trade, saying it continued to have an adverse effect on sales in pubs and in the off- trade.
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