Suffolk brewer and pub operator Adnams has posted further financial losses following weaker-than-expected performance during the first half of 2026.
However, the group assured shareholders it is making “progress” despite challenging market conditions, buoyed by an encouraging July boost from warm weather and the World Cup.
Pre-tax losses for the six months to June reached £1.42 million, representing a marginal improvement on the £1.46 million loss recorded a year earlier. Revenue fell to £27.4 million from £30.1 million.
The drop in turnover was largely driven by the sale of a portion of its tenanted pub estate last year.
Adnams stated its performance remained “resilient” excluding this, “despite continued pressure on consumer spending and subdued trading conditions in the early part of the year”.
Trading across its managed pubs and hotels were “below expectations” in the first half of the year as a result.
However, the group said its performance improved as the summer continued.
The company said: “Complemented by an extended period of very favourable weather and the football World Cup, we have been encouraged by the early results, with our managed estate delivering like-for-like revenue growth of 3.3 per cent and profit growth of 10 per cent in July.
“Whilst it is still early, these improvements give us confidence that the actions being taken will support stronger performance through the second half of the year.”
Adnams said free trade revenues in its drinks business were broadly flat despite a “difficult market”, while supermarket sales were also in line with last year.
The company added: “Adnams today is a more focused business than it was two years ago.
“Whilst there remains much work to do, the board believes the actions being taken are the right ones to create a more resilient, profitable and sustainable business over the long term.”
England and Scotland World Cup matches helped drive stronger sales across British pubs last month while restaurants and bars suffered a weaker month.
The latest monthly NIQ RSM hospitality business tracker showed that pubs were the standout performer across the hospitality sector during the month due to the boost from football fans.
Experts have said they expect England’s progress to the semi-finals will have also driven a “stronger” performance this month.
Like-for-like sales grew by 1.9% across British pubs last month, marking the strongest monthly performance this year.
Pubs also heavily benefited from long periods of warm weather across parts of the country, as England saw the hottest June on record, according to the Met Office.
