Shepherd Neame Ltd

AQSE Growth Market -
Shepherd Neame is Britain’s Oldest Brewer, based in Kent since 1698. It is a family business with strong family involvement and a balance of Neame family members and non-family members on the Board of Directors. The Company brews widely acclaimed premium ales and British lagers from its brewery in Faversham. These beers are sold through various channels across the South East of England and nationally, and have a growing presence in international markets.

The Company owns and operates 321 high quality pubs and hotels throughout the South East of England, the majority of which are freehold sites. These pubs are a mixture of 242 tenanted, 68 managed operations, and 11 free of tie pubs, where the Company’s beer products are sold alongside wine and food and a growing accommodation business with 294 letting rooms in the managed estate. Their pubs provide numerous jobs and are important assets in their local communities.
Symbol Ccy Code Bid Ask Share Price (Mid) Previous Close Volume Last Traded
SHEP GBX 810 830 820 820 900 16.05.22

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Key Information

  
Market Cap: £121,831,500
ISIN:GB00BMQX2R72
Par:50
Inst Type:Ordinaries
Symbol:SHEP
MIFID Status:MTF
Tradable securities in issue:14,857,500
Sector:Beverages
% daily price change:0.00%

Latest Trades

Date & Time Volume Price
16.05.22  |  12:45:30150810
16.05.22  |  12:07:18750810
13.05.22  |  16:04:55172810.2001
13.05.22  |  13:01:45501810.2001
12.05.22  |  11:48:29400820
12.05.22  |  11:48:19400820
12.05.22  |  11:48:03795820
12.05.22  |  10:16:08305820
12.05.22  |  09:22:35700825
12.05.22  |  09:22:27700825

Financial Information

Performance

Earnings per share of -79.75p for 06/2020 has declined from 68.1p in 06/2018 or -147.85p over the period. Looking at this trend over the last 3 reported periods earnings are showing a decline.

Earnings per share   % growth (1)
   
 06/2019-74%
 06/2020-553%
   
Average over 3 periods+-314%
Strength in EPS trend ±
Low
High

(1) % growth is year on year % change in EPS.

Basic earnings per share are earnings from continuing and discontinued operations that are attributable to current equity holders.

Business Insight

Costs to Revenues ratio of 0.6 in 06/2020 has declined from 0.5 in 06/2018. Operating costs over the period have declined at a slower pace than the Revenues have declined.

Cost to Revenue ratio (2)   Multiple to Revenue
   
 06/20180.5x
 06/20190.5x
 06/20200.6x
   
Average multiple over 3 periods+0.5x
Strength of cost to revenue relationship ±
Low
High

(2) Costs include selling and admin, depreciation, amortisation and other operating costs.

Valuation

Financial Metric
Price multiple to metric
Relationship strength between metric and share price ±
  
EBITDA12.9x
EBIT120.3x
NI-10.5x
FCF39.2x
DPS-
Assets0.4x
CE0.6x

The Relationship Strength is statistical measure of how close the data is to a line of best-fit line between share price and the metric shown. It is scaled between zero (no relationship) and 5 (strong relationship).

In this case Net Income has the strongest relationship to share price, with the company's Market Capital value at -10.5x Net Income.

+ In cases of change in accounting period length, the average is for the last 3 periods. In all cases, it is dependent on published available data and may be for periods shorter than 3 years

± The ‘Strength’ bar shows the strength of the statistical linear relationship of the metrics shown in the chart over the last three periods of data.

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All data provided by Fregnan.

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All data provided by Fregnan.

Last results date:     27.06.20
Enterprise Value £207.35m
EV/EBITDA 21.79
EV/EBIT 202.88
   
PE Ratio (10.38)
PEG (118.07)%
Dividend Yield -
Free Cash Yield 2.57%

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All data provided by Fregnan.

30.06.18
(£'000)
29.06.19
(£'000)
27.06.20
(£'000)
Income Statement      
Revenue 156,567145,801123,619
Operating Income (EBIT) 14,82516,1871,022
Net Income 10,0152,589(11,750)
       
Balance Sheet      
Cash 1,6251169,861
Total Debt 76,42282,09394,262
Total Liabilities 133,175128,631147,092
Total Equity 201,052208,097192,246
       
Operating Margin 9.47%11.10%0.83%
EPS - Basic 68.10p17.59p(79.75)p
EPS - Growth (1.44)%(74.17)%(553.35)%
Dividend Per Share 29.20p30.08p-
Average Shares Outstanding 14.71m14.72m14.73m
       
ROA 2.98%0.77%(3.48%)
ROCE 4.81%5.20%0.39%
ROE 5.11%1.27%(5.87%)

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All data provided by Fregnan.

30.06.18
(£'000)
29.06.19
(£'000)
27.06.20
(£'000)
Revenue 156,567145,801123,619
Cost of Revenue 64,33155,81050,208
Depreciation & Amortisation 8,2948,2988,493
Gross Profit 83,94281,69364,918
Other Operating Expenses 69,11765,50663,896
Operating Income (EBIT) 14,82516,1871,022
Net Interest Expense 4,29513,7214,042
Unusual Expense (incl. Exceptionals) 3161,8589,075
Non-Operating Expense 1,9052,863(6)
Profit (pre-tax) 12,1193,471(12,101)
Taxation (2,104)(882)351
Other Expenses and Minortity Interest ---
Net Income 10,0152,589(11,750)

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All data provided by Fregnan.

30.06.18
(£'000)
29.06.19
(£'000)
27.06.20
(£'000)
Cash from Operations 22,59922,49715,253
Cash from Investing (8,665)(11,071)(10,514)
Cash from Financing (12,493)(13,868)5,939
Other Miscellaneous ---
Net Cash Flow 1,441(2,442)10,678

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All data provided by Fregnan.

30.06.18
(£'000)
29.06.19
(£'000)
27.06.20
(£'000)
Current Assets 25,49421,23029,413
Non-Current Assets 308,733315,498309,925
Total Assets 334,227336,728339,338
Current Liabilities 24,61424,029122,108
Non-Current Liabilities 108,561104,60224,984
Total Liabilities 133,175128,631147,092
Net Assets 201,052208,097192,246
Total Equity 201,052208,097192,246

Click here to download a glossary of terms.

All data provided by Fregnan.

Address

Business Address

Shepherd Neame Ltd, 17 Court Street, Faversham, Kent, ME13 7AX, United Kingdom.

Email: company@shepherdneame.co.uk

Phone: 01795 532206

Registered Address

17 Court Street, Faversham, Kent, ME13 7AX, United Kingdom.

Contacts

Corporate Adviser

I'm sorry we have no details for this company.

Registrar

Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS13 8AE, United Kingdom.

Email: web.queries@computershare.co.uk

Phone: 0370 703 6191

Research


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