Fuller, Smith & Turner P.L.C., the London brewer and premium pub company, has updated on trading for the 43 weeks to 24 January 2015.
Like-for-like sales in Managed Pubs and Hotels rose 6.8%, like-for-like profits in the Tenanted Inns division grew by 4% and total beer and cider volumes in the Fuller’s Beer Company also grew by 4%.
Fuller’s has acquired two new sites – The Cromwell Arms in Romsey, Hampshire, and The Three Guineas at Reading Station, an area that will benefit from the arrival of Crossrail. In addition, the company opened One over the Ait, Kew Bridge, and acquired the freehold of The Stable in Falmouth.
This continued policy of acquiring premium sites and investment in the existing estate has led to a slight rise in debt to £157.8m at the end of the third quarter on 27 December 2014, up from £155.9m at the half year. Meanwhile, net debt to EBITDA remained at 2.6 times.
Simon Emeny, Chief Executive, commented: “Trading in our estate has been consistently good during the year and it was particularly pleasing to have a record Christmas – especially against very strong comparative figures last year. Our commitment to three key principles – an unrivalled portfolio of premium brands, engaging service, and freshly-cooked food delivered in a stylish environment – continues to deliver great results and delight new and existing customers alike.
“We are confident of meeting our expectations for the full year and look forward to updating the market on 5 June 2015, when we announce the Company’s preliminary results for the 52 weeks to 28 March 2015.”