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 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