Fuller, Smith & Turner, the London brewer and premium pub company, has announced its trading update for the 43 weeks to 21 January 2017.
Trading over the important Christmas and New Year period has been strong, with like for like sales in Managed Pubs and Hotels for the last 10 weeks increasing by 7.4%, like for like profits in Tenanted Inns rising by 2% and total beer and cider volumes in The Fuller’s Beer Company increasing by 1%.
For the 43 week period, like for like sales in Managed Pubs and Hotels increased by 3.7%, like for like profits in the Tenanted Inns division were down by 1% and total beer and cider volumes in The Fuller’s Beer Company decreased by 4%.
Simon Emeny, Chief Executive, (pictured) commented, “Our strategy of sustained investment in our pubs, our brands and our people continues to drive the business forward. In the final quarter, we will be taking advantage of what will be a 53 week year to accelerate investment in our existing estate and reinforce our marketing programme for The Fuller’s Beer Company.
“With our clear vision and exciting initiatives for the coming financial year, we are well placed for the future. However, in common with many other companies we are facing increasing cost pressures including a steep rise in business rates, an increase in the National Living Wage and the introduction of the Apprenticeship Levy, all set against an ever-changing global political and economic backdrop.
“The last 10 weeks have been particularly strong, which is a credit to the whole Fuller’s team. We will next update the market on 9 June 2017, when we announce the Company’s full year results for the 53 weeks to 1 April 2017.”