The FINANCIAL -- London-based pub company and brewer Fuller, Smith & Turner has
recorded a 5.1% rise in like-for-like sales among managed pubs and
hotels in the nine weeks to 21 January,according to Caterer and Hotelkeeper.
The performance means that for the 42 weeks up to 21 January, like-for-like sales growth stands at 4.1%.
Like-for-like profits in the tenanted Inns division increased 1% and own beer volumes for the Fuller's Beer Company grew 1% for the 42-week period.
In November last year Fuller's indicated it would buy five pubs from Marston's for £16m, and also bought the freehold of one of its former leasehold sites, the Old Fish Market in Bristol, both of which helped push its net debt up to £109.4m as at 31 December, up from £92.5m at the half year.
The company said trade had also been good in January, but like-for-like performance in these nine weeks versus had been boosted by the snow in the previous year.
Fuller's also revealed that it had exchanged on two more pubs that are due to complete before the end of March and the two recent acquisitions that are currently closed for extensive work - the Crown Inn, Bishop's Waltham, and the White Swan hotel, Stratford-upon-Avon, will reopen in March and April respectively.
Related Stories
