Spitfire brewer braces for more flak

RESOLUTIONS: Stuart Neame
RESOLUTIONS: Stuart Neame

BREWER Shepherd Neame is braced for more family fireworks at its annual meeting on October 29.

Stuart Neame, who was ousted as a director and lost a claim for unfair dismissal against the company, has joined forces with Dr Roderick Neame in a bid to have Roderick appointed an independent director.

Stuart Neame is also pressing for the business to account for its brewing and pub businesses separately--something it has always resisted.

The company is asking shareholders to reject both resolutions. It says Dr Roderick Neame was invited to an interview about becoming a director but could not attend.

The nomination committee reviewed his CV but decided that he had no relevant expertise to add to the board and that, as a majot shareholder, he could not be independent.

Despite the year's upheavals, Sheps turned in good results.

Turnover was up 6.9% to £90.3m, operating profit (before exceptionals) up 9.6% to £12m, pre-tax profit (before exceptionals) up 8.7% to £9m and earnings per £1 share (excluding exceptionals) up 15.8% to 50.7p. Dividends per £1 share were up 8% to 17.6p

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