Fuller’s holds steady in tough year

Pub company and brewer Fuller, Smith & Turner delivered “a strong set of results” in a difficult year.

In the 52 weeks ended 28 March the company saw turnover increase 3% to £210m (2008: £203.1m).

Pre tax profit was £14.4m compared with £23m a year earlier due, in the main, to the write down in value of properties.

Excluding exceptional costs, pre tax profit slipped 1% to £22.8m (2008: £23m).

Michael Turner, chairman of Fuller’s, said: “I am pleased to report a strong set of results in what has been a very difficult year given tough market conditions.

However, he added that the company remained cautious about the outlook for the UK economy with rising unemployment and expected tax increases to service increased national debt.

“However, we are well placed to meet the challenges ahead with strong brands, well-controlled costs and delightful, we-invested, smoke-free pubs that serve outstanding cask ale and delicious food,” said Turner.

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By Chris Druce

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