16 July, 2004

UK: Britain's Burtonwood Brewery Plc expects good progress in the current financial year, with sales at its 41 managed pubs up nine percent in the first 13 weeks of its financial year, it said on July 15. Burtonwood, whose beer includes Burtonwood Top Hat Premium Bitter and James Forshaws Bitter, named after the brewery founder, owns 449 mostly neighbourhood pubs across north and central England and Wales, of which 408 are leased to tenants, according to Reuters.

Sales at the tenanted pubs rose three percent in the 13 weeks to July 3, Burtonwood said in a statement ahead of its annual general meeting. "I remain confident of further good progress in the current financial year and beyond," Chairman Richard Gilchrist said in the statement.

Neighbourhood pubs, a British institution with a loyal customer base, are less vulnerable to a slowdown in consumer spending, unlike their high street peers which face tough competition in the country's overcrowded 60,000-strong pub industry.

At 0805 GMT Burtonwood stock had been marked 0.9 percent firmer at 388-1/2 pence, valuing the Lancashire-based brewer at about 84 million pounds ($154 million). The shares have gained 13 percent since January.

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