Fuller, Smith and Turner enjoys festive cheer

Cask ale brewer, hotel and pubs group Fuller, Smith and Turner said it traded well over the key Christmas period and, while it remains mindful of the uncertain economic outlook for 2013, it is confident in future trading.

Cask ale brewer, hotel and pubs group Fuller, Smith and Turner said it traded well over the key Christmas period and, while it remains mindful of the uncertain economic outlook for 2013, it is confident in future trading.

In the nine weeks to January 19 2013, like for like (LFL) sales in Managed Pubs and Hotels rose 4.5%, bringing the like for like sales growth for the 42 weeks to 2.6% from 2.1% after 33 weeks.

Like for like profits at the Tenanted Inns division increased 1% for the 42 weeks, after being level after 33 weeks. Total beer volumes in the Fuller's Beer Company remained level, unchanged from 33 weeks.

Fuller's, which completed the acquisition of two managed pubs in Bath at the start of November for £7.5m, said its balance sheet and cash generation remain strong.

Net debt reduced to £136.1m on December 29th 2012, from £137.3m at the half year.

"Fuller's once again enjoyed a good Christmas, with many managed pubs having record weeks. Our strategy to invest consistently in our pubs and emphasis on freshly cooked food has driven growth, with our mobile and tablet-friendly website contributing to the increase in covers," the group said in a company update.

Chairman Michael Turner added: "UK consumers enjoyed themselves in our pubs and hotels over the festive period."

"Whilst the economic outlook for 2013 remains uncertain, our long term strategy and focus on quality continue to serve us well and the strong performance of our acquisitions and refurbishments give us confidence to keep on investing for the future."

CJ

Recommended

Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

Nationwide: UK house prices decline at the fastest pace since 2009
House prices

Nationwide: UK house prices decline at the fastest pace since 2009

UK house prices fell for the seventh month in a row in March, Nationwide’s house price index showed.
31 Mar 2023
The best one-year fixed savings accounts - March 2023
Savings

The best one-year fixed savings accounts - March 2023

Earn over 4% on one-year fixed savings accounts.
30 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall to around £2,000, based on average typical use, for the first time since 2022. We have all the details.
31 Mar 2023