London-based brewer and pub operator Fuller, Smith & Turner has bucked the current pub trading trend and revealed strong sales growth.
However, the company has warned that the rising cost of food and utilities would likely affect future profits, as sales in the pub market were proving to be “challenging”.
Fuller’s chairman Michael Turner, said: “Since the half year, the slowdown in consumer spending and input price inflation on top of the smoking ban have made operating conditions more challenging. I am therefore very pleased with the way the company has performed in such a climate.”
Like-for-like sales in its managed pubs division for the 43 weeks to 26 January were up by 4%.
Tenanted turnover grew 4.4% over the same period and Fuller’s said that its hotel division continued to perform strongly.
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By Christopher Walton
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