24 July 2018
FULLER, SMITH
& TURNER P.L.C.
AGM Trading
Statement
16 weeks to
21 July 2018
Fuller, Smith & Turner P.L.C. (“Fuller’s” or “the Company”),
the London brewer and premium pub
company, today makes the following trading statement for the 16
weeks from 1 April to 21 July 2018
(“the period”), in advance of the Company's Annual General Meeting
to be held today [24 July 2018] at
11am, in The Hock Cellar, Griffin
Brewery, Chiswick, London W4
2QB.
The Company has made a good start to the new financial year with
like for like sales in our Managed Pubs and Hotels rising 4.0%,
particularly pleasing against a strong comparative of 6.6% for the
same period in the prior year. Like for like profits in our
Tenanted Inns were up 4% and total beer and cider volumes in The
Fuller’s Beer Company were flat.
Chief Executive Simon Emeny 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.
“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.”
The next report will be on 23 November
2018, when the Company issues its half year results for the
26 weeks to 29 September 2018.
- Ends –
For further information, please
contact:
Fuller, Smith & Turner P.L.C.
Simon Emeny, Chief Executive
(press)
020 8996 2135
James Douglas, Finance Director
(analysts) 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. As of today [24
July 2018], the Company runs 179 Tenanted pubs and 209
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 781 boutique bedrooms in
its Managed estate. The Fuller’s pub estate stretches from
Brighton to Birmingham and from Bristol to the Greenwich Peninsula, including
174 locations within the M25. In June
2018 Fuller’s acquired Bel & The Dragon, comprising six
stunning country inns (included in the pub numbers above), and
the Company also owns 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, Frontier Premium London Lager and a variety
of cask and craft keg beers supported by a changing seasonal range.
The Company owns Cornish Orchards – a craft cider maker producing a
range of award-winning ciders and premium soft drinks – and Nectar
Imports, a wholesale drinks business. In February 2018, Fuller’s also acquired Dark Star
Brewing, a craft cask brewer based in Sussex.