Wolverhampton toasts performance
BREWING to pubs group Wolverhampton & Dudley Breweries today said the hot summer had helped it to a hearty second half.
The West Midlands-based company said the good weather, a clear company focus and targeted investments had contributed to a 'satisfactory' performance.
In a trading update ahead to its annual results in December, the group said it expected its performance for the year to meet expectations.
W&DB said the group's good performance came despite a strong showing last year, which included boosts from the Queen's Golden Jubilee bank holiday and the World Cup.
The company cautioned that the brewing industry would face continued pressure from rising wage and regulatory costs in the year ahead.
It said the one-off cost of implementing licensing reform next year was likely to be £1m and added that the rise in the adult hourly rate of the National Minimum Wage to £4.50 from 1 October would also affect the group.
But chief executive Ralph Findlay said it aimed to maintain margins through further investment in its pubs and beer brands and increased efficiency.
'I am confident our proven strategy, high quality assets and local expertise will enable us to continue delivering value for our shareholders,' he said.
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