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

How to profit from India’s high-tech recovery
Share tips

How to profit from India’s high-tech recovery

Professional investor David Cornell of the India Capital Growth Fund, selects three of his favourite Indian stocks to buy now.
27 Sep 2021
Share tips of the week – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021
Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021

Most Popular

A nightmare 1970s scenario for investors is edging closer
Investment strategy

A nightmare 1970s scenario for investors is edging closer

Inflation need not be a worry unless it is driven by labour market shortages. Unfortunately, writes macroeconomist Philip Pilkington, that’s exactly w…
17 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
What really causes inflation? Here’s what prices since 1970 tell us
Inflation

What really causes inflation? Here’s what prices since 1970 tell us

As UK inflation hits 3.2%, Dominic Frisby compares the cost of living 50 years ago with that of today, and explains how debt drives prices higher.
15 Sep 2021