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Strong First Half Performance by Fuller, Smith & Turner

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Strong First Half Performance by Fuller, Smith & Turner

Strong First Half Performance by Fuller, Smith & Turner
November 24
11:56 2014

Fuller, Smith & Turner, the London brewer and pub operator, has reported a 9% rise in EBITDA to £30.7 million on revenue up 10% to £161.6 million for the 26 weeks ended 27 September 2014, with adjusted profit before tax up 8% to £19.6 million. The group’s total beer and cider volumes rose by 6% and it achieved strong like for like sales growth of 6.5% at its Managed Pubs and Hotels business while like for like profits increased by 5% in the Tenanted Inns division.

Simon Emeny, chief executive of Fuller’s, comments: “It has been an exciting six months for the company and I am pleased to report a strong operational performance in our existing business combined with striking new long term investments for the future. Our business has a clear vision and long term strategy focusing on recruiting and developing the best people, enhancing our premium drinks portfolio, continuous investment in our estate and developing our range of freshly-made seasonal dishes. The result of this strategy is another significant increase in sales and profit.”

He adds: “We have seen a positive start to the second half. The company is in robust health and we face the future with optimism and confidence. Our high quality predominantly freehold estate, passionate team and healthy balance sheet put us in an excellent position to continue to deliver good returns for the Company and our investors. ”

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