Tradition pays off for Shepherd Neame pubs

Britain's oldest brewer and operator of 360 quality pubs in the South East today showed that old-fashioned boozers remain popular.

Shepherd Neame, founded in 1698, offered another strong sales update today and said that its pub estate has risen in value.

While rivals are closing or selling pubs and pushing sales of foreign lager, Shepherd Neame says it is entirely possible to do well from a more traditional approach.

In the 48 weeks to May 28, sales are up 7.7%.

The pubs are worth £68 million more than the last time they were valued.

The company's Southern bias helps, as does its beer.Spitfire is one of the fastest-growing bottled ales in the UK, with sales up 4.5%.

All pubs have benefited from recent good weather and are hoping the summer will hold.

Chief executive Jonathan Neame said the City should expect it to keep doing well.