Food and accommodation boost sales and profits at Fuller's

6th Jun 2014 07:11

Pub grub and accommodation helped froth up annual sales and profits at pub and brewing group Fuller, Smith & Turner, which also hiked its dividend by 11% to 9.3p.Fuller's, which makes the flagship London Pride ale, said food and accommodation did particularly well during the year, with like-for-like sales in both areas rising by 10.4%.Its tenanted inns' like-for-like profits increased by 2% while total beer and cider volumes rose by 1%.The group's adjusted profit before tax lifted 10% to £34.1m on a 6% rise in revenue to £288m.Fuller's said trading since the end of the year to March 29th had been good, with managed pub and hotel sales rising 8%, tenanted pub like-for-like profits lifting 4% and Fuller's Beer Company volumes increasing by a tenth.The brewer added to its beer portfolio during the year with the introduction of craft lager Frontier, the acquisition of Cornish Orchards cider and the purchase of the UK distribution rights to Sierra Nevada.Chief Executive Simon Emeny said: "Investment is taking place in all areas of the company and we continue to be pleased with the impact it is having on the business. "The combination of a high quality estate, premium brands and a healthy balance sheet puts us in an excellent position." PW