26 January 2017
FULLER, SMITH & TURNER P.L.C.
Trading Update for the 43 weeks to 21 January 2017
Fuller, Smith & Turner P.L.C. ("Fuller's" or "the Company"), the London brewer
and premium pub company, today announces its trading update for the 43 weeks to
21 January 2017 ("the period").
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, 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."
-Ends-
For further information, please contact:
Fuller, Smith & Turner P.LC.
Simon Emeny, Chief Executive 020 8996
2000
James Douglas, Finance Director 020 8996
2000
Georgina Wald, Corporate Comms Manager 020 8996 2198 /
07831 299801
Instinctif Partners
Justine Warren
020 7457 2020
Notes to Editors:
Fuller, Smith and Turner P.L.C. is an independent traditional family brewer
founded in 1845 and is based at the historic Griffin Brewery in Chiswick,
London, where brewing has taken place continuously since 1654. The Company runs
195 Tenanted pubs and 197 Managed Pubs and Hotels, with a focus on delicious
fresh, home-cooked food, outstanding cask and craft ale, great wine and
exceptional service. The Company also has 665 boutique bedrooms in its Managed
estate. The Fuller's pub estate stretches from Brighton to Birmingham and from
Bristol to the Greenwich Peninsula, including 175 locations within the M25.
Fuller's owns a 76% stake in The Stable, a craft cider and gourmet pizza
restaurant business, which has 17 sites in England and Wales.
The Fuller's Beer Company brews a portfolio of premium beers including London
Pride, Oliver's Island, ESB, Organic Honey Dew and Frontier Craft Lager. In
June 2013, the Company acquired Cornish Orchards, a craft cider maker producing
a range of award-winning ciders and premium soft drinks. Fuller's is also the
UK distributor for Sierra Nevada, the premier US craft beer. In December 2015,
Fuller's acquired a 51% stake in Nectar Imports, a wholesale drinks business.