Pre tax profits at London Pride brewer Fuller, Smith & Turner were higher than KBC Peel Hunt had expected, prompting the broker to upgrade the pub chain owner to ‘buy'. ‘Fullers is making the most of its Punch acquisitions as well as its excellent beer branding,' KBC Peel Hunt analyst Paul Hickman opined. The company has made a number of acquisitions from cash strapped pubs group Punch Taverns this year. Following the release of Fuller's interim figures the broker is revising its full year earnings forecasts upwards by 3%, giving a predicted profit before tax figure of £24.5m and an earnings per share estimate of 31p.
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