Fuller's sales up 11.5%
The London-based pub operator and brewer’s latest trading update also revealed sales during the five-week Christmas and New year period had been “strong” across its estate, up 21.6% against the previous year.
Fuller’s chief executive Simon Emeny said the results were a “testament to the hard work, energy and dedication” of the group’s “amazing team members”.
He continued: “I am delighted to see the business continue to deliver strong sales growth.
Challenging economic environment
“Our teams pulled out all the stops to ensure our customers had a brilliant Christmas and New Year.”
Looking forward, Emeny added the business, which runs 183 managed pubs, 1,015 boutique bedrooms and 193 tenanted inns, was in “great shape” despite cost pressures and “exciting growth plans” in place.
“We continue to see the impact of a challenging economic environment, but we are positive about the future and confident of meeting market expectations for the full year.
“While we face significant rises in the National Living Wage and business rates, we have exciting plans in place to grow the business.
Trade-enhancing investment
“These include a number of high profiles, trade-enhancing investment schemes in our existing estate, which will ensure we continue to build on our current momentum”, the chief executive said.
The group’s previous update, released in November last year, showed like-for-like sales were up 12.7% in the first half of the financial year (H1 2024), compared to the same period last year.
In addition, the pubco’s food and drink like-for-like sales were up 15.5% and 10.9% respectively while its accommodation trade had increased 13.4% in the 26 weeks to September 2023.
Fuller’s will next update the marker on 13 June 2024, when it will announce the company’s full year results for the 52 weeks to 30 March 2024.
