Fuller, Smith & Turner PLC (LON:FSTA) said it has made a good start to the new financial year benefitting from the prolonged summer weather and feel-good factor of England’s World Cup performance.
In a trading statement for the 16 weeks from 1 April to 21 July 2018, the London brewer and premium pub company said like-for-like (LFL) sales in its Managed Pubs and Hotels rose 4.0%, which was particularly pleasing against a strong comparative of 6.6% for the same period in the prior year.
The FTSE SmallCap firm added that like-for-like profits in its Tenanted Inns were up 4% and total beer and cider volumes in The Fuller’s Beer Company were flat.
In the statement, to be delivered at today’s AGM, Fuller’s chief executive Simon Emeny said: “Our core business has performed well, with the prolonged summer weather benefiting our pubs with outside space and our latest acquisitions are bedding in well and performing to plan.”
He added; “Although we have undoubtedly benefited from the feel-good factor of England’s World Cup performance and good summer weather, it is important to remember that the underlying economic and political situation, particularly the UK’s position with regards to Europe, creates uncertainty and it is difficult to predict the nature of any potential impact on the sector.”
“However, Fuller’s is a well-balanced company that is founded on iconic pubs and a premium portfolio of outstanding brands, underpinned by an excellent team of people. We have exciting plans in place to keep us relevant and interesting to today’s consumer and we face the coming year in a strong position and with a positive outlook.”
The company said it will issue its half-year results for the 26 weeks to 29 September 2018 on 23 November 2018.