Fuller’s pubco sees profits rise in managed and tenanted estate

25/01/2018 - 10:50
London-based brewer and pub operator Fuller’s has reported ‘a good set of results’ for the 42 weeks to 20 January 2018, with like-for-like sales up in its managed pubs and hotels, along with its tenanted inns.

Sales grew by 3% on 2016 across its managed sites with profits rising 2% at its 200-plus tenanted inn estate.

The group’s own-brand beer and cider volumes, which includes the London Pride and London Porter brands, remained level.

The additional (53rd)  week in its previous financial year meant the pubco moved the comparative period by one week in the calendar.

Adjusting for this to align calendar dates, Fuller’s like-for-like sales growth would have been +3.6% after week 33 and +3.4% after week 42.

Simon Emeny, chief executive, said: “These are a good set of figures in what remains a challenging trading environment. They prove that a great experience in a stunning pub with excellent service, delicious food and a fantastic range of interesting drinks, continues to appeal to our customers.

“Our long-term vision and prudent financing keep us well-placed to maintain our strategy of investing in our pubs, our portfolio of premium beer and cider brands, our people and our marketing. We will next update the market on 8 June 2018, when we announce the company’s full year results for the 52 weeks to 31 March 2018.”

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