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Fuller, Smith & Turner swings to loss in H1 on virus impact
StockMarketWire.com
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Fuller, Smith & Turner swung to a loss in the first half of the year as revenue plunged after the pub group was forced to shutter its doors as the country went into lockdown to curb Covid-19.
For the 26 weeks to 26 September 2020, pre-tax losses were £23 million year-on-year, compared with a profit of £14.2 million as revenue fell to £45.6 million from £167.1 million.
The results for the period 'reflect 14 weeks of zero trade where the group incurred an operating loss of £16.3 million, a period of transition which saw a phased reopening of the estate from 4 July 2020 and the final two months where the majority of the estate was open albeit trading with severe restrictions,' the company said.
Looking ahead, the company said the tightening of the tier system would present further challenges over the winter months.
Story provided by StockMarketWire.com
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