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Shepherd Neame occupies a unique place among regional brewers, its mainly Kentish geography partially intersecting London and its business model comparable to Fullers’ and Young’s, even though its profile is, as yet, lower. Steady investment over the crisis years is delivering strong results now, and we feel that the tailwind from regional recovery and the macro benefits of the low oil price, combined with intelligent management techniques, should continue to underpin progress. The enterpris...

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