No thread on Fullers, So here we go.

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Interims out today http://www.moneyam.com/action/news/showArticle?id=4490355

Final Results

Financial Highlights

· Adjusted earnings per share1 up 11% to 46.94p (2013: 42.18p)
· Adjusted profit before tax2 up 10% to £34.1 million (2013: £31.1 million)
· Revenue up 6% to £288.0 million (2013: £271.5 million)
· EBITDA3 up 6% to £54.5 million (2013: £51.2 million)
· Final dividend up 11% to 9.30p (2013: 8.35p)
· Net debt to EBITDA4 2.5 times (2013: 2.6 times)


Operational Indicators

· Industry leading like for like sales growth of 8.3% in Managed Pubs and Hotels
· Particularly strong growth in food and accommodation, with like-for-like sales in both areas rising by 10.4%
· Tenanted Inns like for like profits5 increased by 2%
· Total Beer and Cider volumes rose by 1%


Strategy Update

· Portfolio development continues with addition of Frontier, our new craft lager, Cornish Orchards cider and Sierra Nevada
· Increased capacity at Cornish Orchards by 60%
· Acquired three new sites and opened Cams Mill, Fareham
· Tenanted Division wins Tenanted Pub Company of the Year at the Publican Awards


Current Trading

· Managed Pubs & Hotels like for like sales +8.0%
· Tenanted like for like profits +4%
· Fuller's Beer Company volumes +10%
· Purchase of three new freehold sites including two Thames riverside locations
· Opened London's Pride at Heathrow Terminal 2: The Queen's Terminal

The video at the end is interesting - Campaign Win: Reform of the Beer Tie

Numis Add 983.75 947.50 1,050.00 1,050.00 Reiterates

DIRECTOR/PDMR SHAREHOLDING

The Company wishes to advise that Lynn Fordham, a Non-Executive Director,
purchased 9,850 `A' Ordinary 40p shares in the Company at £10.10 each today.

This announcement is made in accordance with the requirements of DTR 3.1.4.

Interim Management Statement

16 weeks to 19 July 2014

Strong start from all divisions

Fuller, Smith & Turner P.L.C. ("Fuller's" or "the Company"), the London brewer
and premium pub company, today made the following Interim Management Statement
for the 16 week period from 30 March to 19 July 2014, in advance of the
Company's Annual General Meeting to be held at 11.00 am, 24 July 2014, in the
Hock Cellar, Griffin Brewery, Chiswick, London W4 2QB.

Trading has been strong across all divisions, with like for like sales in
Managed Pubs and Hotels rising by 7.3% for the period and like for like profits
in the Tenanted Division growing by 3%. Total beer and cider volumes in the
Fuller's Beer Company rose by 7%.

Net debt as at 28 June 2014 was £145.2m and net debt to EBITDA remained at 2.5
times.

During the period, the Company purchased a 51% stake in The Stable, a craft
cider and pizza restaurant business, acquired The Bull Hotel in Bridport,
Dorset and The Windmill in Portishead, near Bristol and agreed to acquire The
Harp in Covent Garden. In addition, London's Pride, the Company's first airside
pub at Heathrow Terminal 2, opened its doors for trading.

Simon Emeny, Chief Executive, commented: "We've had a strong start to the new
financial year with our core business performing well. We launched a number of
new initiatives last year, particularly in the Beer Company, and these are
beginning to bear fruit. In addition, we have an excellent pipeline of new
openings - the three riverside pubs in Kew, Fulham and Greenwich will come on
stream, a seventh Stable opens in Falmouth at the end of August and we will
continue to look for new pub acquisitions that fit our style of operation. The
year has started well and I look forward to building on this early progress."

The next report will be on 21 November 2014 when the Company issues its half
year results for the 26 weeks to 27 September 2014.

- Ends -

Final Results

Financial Highlights

· Adjusted earnings per share1 up 10% to 51.51p (2014: 46.94p)
· Adjusted profit before tax2 up 7% to £36.4 million (2014: £34.1 million)
· Revenue up 12% to £321.5 million (2014: £288.0 million)
· EBITDA3 up 8% to £58.7 million (2014: £54.5 million)
· Total annual dividend up 10% to 16.60p (2014: 15.10p)
· Net debt to EBITDA4 2.7 times (2014: 2.5 times)

Operational Indicators

· Excellent like for like sales growth of 6.3% in Managed Pubs and Hotels
· Outstanding performance from Tenanted Inns - like for like profits5 increase of 5%
· Good year for Fuller's Beer Company with total beer and cider volumes up by 4%

Strategy Update

· Eight new pubs opened during the year including two on the River Thames, two with bedrooms and two in transport hubs
· Acquired 51% of The Stable, craft cider and gourmet pizza business, and opened a seventh site during the year in Falmouth
· Record levels of investment in our existing estate, with excellent returns on redeveloped sites
· Completed integration and more than doubled UK distribution of Sierra Nevada
· Made of London campaign received two industry marketing awards and continues to drive sales of London Pride
· Frontier craft lager performed well - now the Company's second biggest brand in the UK

Current Trading

· Good start to the new financial year
· Managed Pubs and Hotels like for like sales increased by 5.5% during the first nine weeks
· Tenanted Inns like for like profits for first nine weeks increased by 2%
· Total beer and cider volumes down 2% during first nine weeks
· Purchased The King's Head, Earl's Court Village
· Opened The Stable on the waterfront at Plymouth with at least four more new sites due to open in the current year
· The Sail Loft on Greenwich Reach due to open in fourth quarter

Interims http://www.moneyam.com/action/news/showArticle?id=5157613