|
Fuller, Smith & Turner PLC said at its annual general meeting on Thursday that sales were continuing to recover, marked by a strong performance in the first weeks of its current financial year.
For the first 16 weeks to July 16, total sales rose 3% over pre-pandemic levels, and were 81% higher on the same period the year before.
On a like-for-like basis, sales for the period were up 27% compared to a year prior.
During the period, the London-based pub and hotel company acquire one new site - The Queen's Arms on landside at Heathrow Terminal Two, at the Queen's Terminal which will open in August.
Looking ahead, Fuller said it is well-financed, with total available facilities of £226 million and a reduced net debt position of £123.6 million at July 17 from £131.9 million at the start of the financial year.
‘We are pleased with our sales growth trajectory, particularly in our central London sites where momentum is building well.The industry-wide inflationary cost pressures around food supply, labour and particularly energy are showing little signs of abating. Our premium offer and effective supply chain management provide a degree of protection, but we are not immune from its effects on costs or consumer behaviour,’ said Chief Executive Simon Emeny.
Fuller, Smith & Turner will publish its interim results on November 17.
Shares in Fuller, Smith & Turner were down 2.6% at 613.34 pence on Friday morning in London.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
