Fuller, Smith & Turners’s pubs were put in the shade by a storming performance at its hotels division in its latest financial results.
Hotel division turnover increased 10% and profits soared 17% as annual revenue per available room for the company’s eight hotels edged up 1% to £42.40
Fullers said its White Hart, Brigstow and Chamberlain hotels had performed particularly well.
Eight pubs were bought in the year and opened, and a ninth is currently being developed for launch in September.
The company has 234 managed and tenanted pubs and stronger sales in the second half of the year helped both divisions increase turnover and profits.
Sales of Fuller’s beer also increased 2% to 198,000 barrels despite the general downward trend in the real ale market.
Overall turnover was up 5% to £147.5m compared with £140.3m in 2004, while pre-tax profit in the 53 weeks to 2 April 2005 increased 6%to £17.8m (2004: £16.9m) – stripping out profit from property sales.
Chairman Anthony Fuller said he was confident the company’s performance would be maintained. “The core strength of our business continues to be the breadth and balance of our portfolio.”
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