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Fuller, Smith & Turner PLC on Thursday said good sales momentum was continuing as it reported a jump in annual profit. The London-based pub chain said pretax profit rose 40% to £14.4 million in the financial year ended March 30 from £10.3 million the year before as revenue improved 6.7% to £359.1 million from £336.6 million. The company noted that like-for-like sales in its managed pubs and hotels rose 11%. Food like-for-like sales were up 15%, while Drink like-for-like sales were up 9.8%. Fuller announced a final dividend 11.12 pence per ’A’ share, up 11% from 10.0p. This brings the total annual payout to 17.75p, up 21% from 14.68p. Chief Executive Officer Simon Emeny said: ‘With the solid financial foundation of a strong balance sheet and a first-class, predominately freehold estate of iconic pubs and hotels, combined with a team that has the ability and capacity to drive the business forward, we are confident and excited by the opportunities the future will bring.’ At the start of the current financial year, in the 10 weeks to June 8, like-for-like sales were up 4.4%, Fuller said. The firm highlighted it was ‘in a great position for future growth’. Fuller shares were 0.3% higher at 718.00 pence each on Thursday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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