Cheers to Fullers
Todays results for the 26 weeks ended 28 September 2013 reveal like for like sales growth of 7.9% in Managed Pubs and Hotels. Adjusted profit before tax was up 8% to £18.1 million (2012: £16.8 million).
Commenting on the results, Simon Emeny, Chief Executive of Fuller's, said, "I am pleased to report a strong first half for the Group with adjusted profit before tax growing 8% to £18.1 million and our adjusted earnings per share increasing 9% to 24.79p.
"Our results have been driven by another excellent performance from Managed Pubs and Hotels, with industry leading like for like sales growth of 7.9% and profits up 16%, clearly demonstrating the ongoing appeal of our freshly prepared food offer.
"The second half has started well and the underlying momentum which characterised our trading in the first half has continued over the last seven weeks, with Managed Pubs and Hotels like for like sales up 7.8% over the 33 weeks. Our London and South East based portfolio of well invested quality pubs, a strong balance sheet and consistent long term strategy leave us well placed for the future as we continue to invest in our people, our pubs and our brands. We remain confident of another year of progress for the Group."
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