Fuller,Smith&Turner PLC Trading Update (3506B)
30 Januar 2020 - 8:00AM
UK Regulatory
TIDMFSTA
RNS Number : 3506B
Fuller,Smith&Turner PLC
30 January 2020
30 January 2020
FULLER, SMITH & TURNER P.L.C.
Trading Update for the 42 weeks to 18 January 2020
Fuller, Smith & Turner P.L.C. ("Fuller's" or "the Company"),
the premium pubs and hotels business, today announces its trading
update for the 42 weeks to 18 January 2020 ("the period").
The Company has traded well over the festive period with like
for like sales in Managed Pubs and Hotels rising 4.3% for the six
weeks encompassing Christmas and New Year, and 2.5% for the 42
weeks to the period end. All areas of the business - food, drink
and accommodation - have been in like for like growth. Tenanted
like for like profits are down 3% for the period.
Simon Emeny, Chief Executive, said: "It's been a year of change
for Fuller's and this is a good first Christmas as a focused
premium pubs and hotels business. We have exciting plans in place
for the coming months including the opening of our new sites The
Windjammer at Royal Dock, The White Horse at Wembley Park and The
Parcel Office at Liverpool Street Station. We will also be moving
to our new offices at Pier House in Chiswick at the end of
March.
"This is a very busy time for Fuller's as we complete the
integration of Cotswolds Inns & Hotels, undertake a number of
major capex projects including the redevelopment of The Bear of
Burton in Dorset and our new Bel & The Dragon site at Westerham
in Kent, as well as continue to grow our existing business. In
addition, we are approaching the conclusion of the transitional
services agreement with Asahi, while maintaining a keen focus on
reducing our central costs against a backdrop of rising wage
inflation and business rates. There is a lot to do - but we relish
the challenge.
"We will next update the market on 11 June 2020, when we
announce the Company's full year results for the 52 weeks to 28
March 2020."
-Ends-
For further information, please contact:
Fuller, Smith & Turner P.LC.
Simon Emeny, Chief Executive 020 8996 2000
Adam Councell, 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 a premium pubs and hotels
business. The Company runs 179 Tenanted pubs and 215 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 1,028 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. Included in these numbers are six stunning country
inns trading under the Bel & The Dragon brand and seven
high-quality freehold Cotswold Inns & Hotels sites which were
acquired in October 2019. The Company also owns The Stable, a craft
cider and gourmet pizza restaurant business, which has 15 sites in
England and Wales. In April 2019, Fuller's sold its Beer Business
to Asahi Europe Ltd.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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