Fuller’s revenue up 8% in end of year results

Fuller’s revenue up 8% in end of year results
09/06/2017 - 08:42
Fuller’s brewery and pub company has reported that revenue was up 12% to £392 million and profit before tax was up 5% to £42.9 million in the 53 weeks ended April 1st 2017.

The company announced that its managed pubs and hotels business experienced like-for-like sales growth of 3.7%, which it attributes to growth in food and accommodation.

During the period, EBITDA grew 8% to £70.5 million, up from £65 million in 2016.

Fuller’s has invested £22 million in its existing inns estate and acquired five new pubs, adding 71 new bedrooms. The company has opened four The Stables restaurants and increased its share of ownership to 76%.

In the first nine weeks of the current financial year, like-for-like sales are up 6.6% in its managed pubs and hotels division. Fuller’s chief executive, Simon Emeny, said the company is in a strong position moving forward, despite a number of headwinds.

Emeny, said: “Our managed pubs and hotels are in good shape and although there is a lot of work and a long way to go, we have a clear vision and solid strategy for both our tenanted inns and The Fuller’s Beer Company.

“In short, while we are cautious and realistic about the future, we are well-placed to continue to delight our customers, recruit and develop the best team members and reward our shareholders.”

Fuller, Smith and Turner P.L.C. is an independent family brewer founded in 1845 and is based at the Griffin Brewery in Chiswick, London.

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