Brewer Fuller’s profits up

BREWER and pub operator Fuller, Smith & Turner posted a 16 per cent rise in full-year pre-tax profit and said it expected next year’s London Olympics to help offset a weak consumer environment.
By The Newsroom
Published 10th Jun 2011, 10:36 BST

The company, which brews London Pride beer and runs pubs such as the Butcher’s Hook & Cleaver and the Barrowboy & Banker in the capital, said it made a good start to the new financial year helped by the Royal wedding, and good weather.

Like-for-like sales at the company’s managed pubs and hotels for the nine weeks to June 4 grew 6.8 per cent. “We have the financial strength to invest further in new opportunities and should benefit from the “London factor” as the calendar turns towards 2012,” the company said in a statement.

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For the 53 weeks ended April 2, pre-tax profit was £31m, compared with £26.8m last year. Revenue grew 6 per cent to £241.9m.

Fuller Smith also increased its final dividend 8 per cent to 7.05p.

On Wednesday Britain’s biggest pubs company Punch Taverns reported accelerating sales growth as fine spring weather attracted drinkers to its 6,500 pubs and said it was on track to demerge its managed division, Spirit, by the end of the summer.

Related topics:London