Fuller, Smith & Turner, the London brewer and premium pub company, has made a trading statement for the 16 weeks from 1 April to 21 July 2018, in advance of the group's Annual General Meeting to be held today.
The company has made a good start to the new financial year with like-for-like sales in its Managed Pubs and Hotels rising by 4%, particularly pleasing against a strong comparative of 6.6% for the same period in the prior year. Like-for-like profits in the Tenanted Inns were also up by 4%, but total beer and cider volumes in The Fuller’s Beer Company were flat.
Chief Executive Simon Emeny (pictured) said, “Our core business has performed well, with the prolonged summer weather benefiting our pubs with outside space and our latest acquisitions are bedding in well and performing to plan.
'We have a number of exciting schemes lined up for the coming year, including refurbishments of the four We Are Bar sites acquired in June and the opening of two new station sites at Euston and Liverpool Street. Recent investment in our Destination Chiswick initiative has been well received and included the opening of our new brewery shop and pilot plant.
Emeny continued, “Although we have undoubtedly benefited from the feel-good factor of England’s World Cup performance and good summer weather, it is important to remember that the underlying economic and political situation, particularly the UK’s position with regards to Europe, creates uncertainty and it is difficult to predict the nature of any potential impact on the sector.
“However, Fuller’s is a well-balanced company that is founded on iconic pubs and a premium portfolio of outstanding brands, underpinned by an excellent team of people. We have exciting plans in place to keep us relevant and interesting to today’s consumer and we face the coming year in a strong position and with a positive outlook.”