Yorkshire Post - Business News - Jul 22, 2009Fuller Smith & Turner plc (FSTA)
-
Douglas Jack
at
Numis SecuritiesPublished Date: 22 Brewer and pub owner
Fuller, Smith & Turner revealed a weather related boost to sales yesterday but warned of an uncertain outlook for the year ahead.As well as concern over economic prospects, the London Pride brewer said much will depend on how consumers react to impending tax rises, most notably the reversal of last December's VAT cut in .In the meantime,
Fuller has enjoyed a st ADVERTISEMENT rong start to its financial year, with like for like sales in its managed pubs and hotels up 2.9 per cent after the recent heatwave boosted sales growth from the 1.8 per cent seen in early June.Like for like profits in its tenanted pubs were down 1 per cent, while the company's own brewed beer volumes grew by 2 per cent in the 16 weeks to , helped by the popularity of its Organic HoneyDew beer.Chairman Michael Turner said: "As the sun has shone, our customers have defied the economic gloom.".
Numis Securities said the 2.9 per cent sales improvement in the managed pubs and hotels division suggested growth of 5 per cent in the last six weeks of the period.Analyst Douglas Jack added: "This reflects ongoing investment, operational initiatives and a good London market.".
Share:
Published Date: 22 Brewer and pub owner <span class="company">Fuller</span>, Smith & Turner revealed a weather related boost to sales yesterday but warned of an uncertain outlook for the year ahead.As well as concern over economic prospects, the London Pride brewer said much will depend on how consumers react to impending tax rises, most notably the reversal of last December's VAT cut in .In the meantime, <span class="company">Fuller</span> has enjoyed a st ADVERTISEMENT rong start to its financial year, with like for like sales in its managed pubs and hotels up 2.9 per cent after the recent heatwave boosted sales growth from the 1.8 per cent seen in early June.Like for like profits in its tenanted pubs were down 1 per cent, while the company's own brewed beer volumes grew by 2 per cent in the 16 weeks to , helped by the popularity of its Organic HoneyDew beer.Chairman Michael Turner said: "As the sun has shone, our customers have defied the economic gloom.". <span class="sent"> Numis Securities said the 2.9 per cent sales improvement in the managed pubs and hotels division suggested growth of 5 per cent in the last six weeks of the period.Analyst <span class="analyst">Douglas Jack</span> added: "This reflects ongoing investment, operational initiatives and a good London market.". </span>
Tweet this