Fuller, Smith & Turner PLC: Trading Update for the 43 weeks to 22 January 2022 (1273328)
27 Januar 2022 - 8:00AM
UK Regulatory
Fuller, Smith & Turner PLC (FSTA) Fuller, Smith & Turner
PLC: Trading Update for the 43 weeks to 22 January 2022 27-Jan-2022
/ 07:00 GMT/BST Dissemination of a Regulatory Announcement,
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
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27 January 2022
FULLER, SMITH & TURNER P.L.C.
Trading Update for the 43 weeks to 22 January 2022
Fuller, Smith & Turner P.L.C. ("Fuller's" or "the Company"),
the premium pubs and hotels business, today announces its trading
update for the 43 weeks to 22 January 2022 ("the period").
We fully reopened the estate on 19 July 2021 and had delivered a
steadily improving trading performance, with our managed like for
like sales reaching 90% of 2019 levels, prior to the emergence of
the Omicron Covid variant in early December.
The enhanced Covid restrictions introduced by the Government in
response to Omicron, including the guidance to work from home,
impacted our trade during the important festive and new year
period. Office Christmas parties were cancelled, and City workers
stayed at home, leading to managed like for like sales in the four
weeks to 1 January 2022 reducing to 72% of 2019 levels.
Since the new year, we have seen an improving trading position,
such that for the 43 weeks to 22 January 2022 our managed like for
like sales have traded at 81% of pre-pandemic levels. Following
last week's welcome announcement from the Government to remove the
working from home guidance and the lifting of other restrictions in
England, we have gained further momentum as consumer confidence
returns.
Simon Emeny, Chief Executive, said: "We are seeing an
improvement in trade and expect that to quicken further now that
the Government has lifted Covid restrictions. We saw sales rise
steadily in the City after previous lockdowns, and recent trading
patterns suggest that there is a strong desire among many workers
to return to office working. In addition, we expect to see a rise
in the number of international tourists, which will benefit our
London pubs and those in other tourist destinations.
"I am confident about the future, especially as we move towards
business as usual and an end to Government intervention. Our estate
of iconic, well-located pubs is in great shape, and we have a busy
pipeline of investments due to complete during the last quarter of
the financial year.
"We will next update the market on 9 June 2022, when we announce
the Company's full year results for the 52 weeks to 26 March
2022."
For further information, please contact:
Fuller, Smith & Turner P.LC.
Simon Emeny, Chief Executive 020 8996 2000
Neil Smith, 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 & Turner PLC is the premium pubs and hotels
business that is famous for beautiful and inviting pubs with
delicious fresh food, a vibrant and interesting range of drinks,
and engaging service from passionate people. Fuller's has 209
managed businesses, with 1,027 boutique bedrooms, and 175 Tenanted
Inns. The estate is predominately located in the South of England
(44% of sites are within the M25) and stretches from our London
heartland to the Jurassic Coast via the New Forest. Our Managed
Pubs and Hotels include 15 iconic Ale & Pie pubs, seven
stunning hotels in the Cotswolds, and Bel & The Dragon - seven
exquisite country inns located in the Home Counties. In summary,
Fuller's is the home of great pubs, outstanding hospitality and
passionate people, where everyone is welcome and leaves that little
bit happier than they arrived.
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ISIN: GB00B1YPC344
Category Code: TST
TIDM: FSTA
LEI Code: 213800C7ACOFMRCQQW76
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 139109
EQS News ID: 1273328
End of Announcement EQS News Service
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