Fuller's reports record December sales
Fuller, Smith & Turner has reported ‘record sales' in December for its managed pubs and hotels and predicted that full year results would be ‘ahead of expectations'.
But the freezing January weather "took the gloss off" its figures for the businesses, with like-for-like sales rising by 2.6% in the 11 weeks to 30 January 2010.
And the total like-for-like sales growth over the 44 weeks to 30 January 2010 for the managed pubs and hotels climbed by 2.8%.
Meanwhile, like-for-like profits in its tenanted inns division fell by2% for the 44 weeks to 30 January 2010.
Own beer volumes for the Fuller's Beer Company for the 18 weeks to 30 January 2010 grew by 1%, with a 2% increase for the full 44 weeks.
The company added that, since the half year, it has acquired two pubs - the Railway in Kew for the tenanted inns division and the Holly Bush, Hampstead, for managed pubs and hotels. Fuller Smith & Turner's estate now stands at 367 pubs.
The firm said it remained "cautious" for the outlook of the UK economy. "With inflation set to increase and tax rises and spending cuts inevitable after the general election, we will have to compete even harder for our customers' business. This caution aside, we have ridden out this recession well and look set to exceed our previous expectations for our financial performance for the year to 27 March 2010," it said.
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By Neil Gerrard
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