LONDON (Alliance News) - Fuller, Smith & Turner PLC on Friday reported a rise in profit in the first half of its financial year, as it achieved growth in each of its divisions and said it looks forward to the rest of the financial year with optimism.
The West London-based brewer and publican said its pretax profit in the 26 weeks ended September 26 grew to GBP21.2 million from GBP18.3 million in the same period the year before, as revenue rose 10% to GBP177.7 million from GBP161.6 million.
By division, managed pubs and hotels achieved like-for-like sales growth of 5.6%, tenanted inns saw like-for-like profit rise 3%, and total beer and cider volumes were up 1%.
Fuller added that managed pubs and hotels like-for-like sales were up 5.8% in the first 33 weeks of the year, while tenanted inns like-for-like profit rose 4% and total beer and cider volumes rose 1% in the 33 weeks, which it said was boosted by the Rugby World Cup.
Fuller will pay an interim dividend of 6.9 pence, an 8% increase on the 6.4p paid the prior year.
"In short, having completed the first half of this financial year, I look forward to the rest of the year with optimism," Chief Executive Simon Emeny said in a statement.
"Fuller's is a company with clear values, a consistent and well communicated strategy, and I know that we will continue to deliver great beer and cider, delicious food and outstanding service to our customers, great careers for our people and solid returns for our shareholders," he added.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Fuller Smith & Turner (FSTA)