Fuller's reports 3.7% increase in like-for-like sales
London brewer and premium pub company Fuller's has reported a 3.7% increase in like-for-like sales for the 43 weeks to 21 January 2017.
However, like-for-like profits in the tenanted inns division were down by 1% and total beer and cider volumes in Fuller's Beer Company decreased by 4%.
The group described trading over the Christmas and New Year period as "strong", with like-for-like sales for the last 10 weeks increasing by 7.4%, like-for-like profits in tenanted inns rising by 2% and total beer and cider volumes increasing by 1%.
Simon Emeny, chief executive, said: "Our strategy of sustained investment in our pubs, our brands and our people continues to drive the business forward. In the final quarter, we will be taking advantage of what will be a 53-week year to accelerate investment in our existing estate and reinforce our marketing programme for the Fuller's Beer Company.
"With our clear vision and exciting initiatives for the coming financial year, we are well placed for the future. However, in common with many other companies we are facing increasing cost pressures including a steep rise in business rates, an increase in the National Living Wage and the introduction of the Apprenticeship Levy, all set against an ever-changing global political and economic backdrop."
Fuller's increases profit and revenue >>
