Fuller,Smith & Turner FY10 Pft Nearly Doubles; Sales Up In FY11

11th Jun 2010 07:29

LONDON (Dow Jones)--Pub and brewery group Fuller, Smith & Turner PLC (FSTA.LN) Friday posted a near-doubling of full-year pretax profit, flattered by fewer charges than a year earlier, and said while it remains cautious about consumer spending sales growth has strengthened going in to the current fiscal year. The company said comparable sales in its managed pubs and hotels are up 3.5% in the 10 weeks to June 5. Comparable sales growth in these pubs and hotels for the fiscal 2010, which ended March 27, was 2.7%. Nonetheless the group cautioned: "...with the prospect of personal taxation in our target market rising further and disposable incomes reducing there may be less leisure spend available in real terms." Fuller's fiscal 2010 pretax profit climbed 86% to GBP26.8 million from GBP14.4 million a year earlier. In the fiscal 2009 the company paid out GBP8.4 million of net exceptional costs which mainly related to asset impairment charges. Revenue rose 8% to GBP227.7 million from GBP210 million a year earlier. The firm said the numbers are a record result. It lifted its total dividend by 12% to 11 pence a share from 9.85 pence a share in fiscal 2009. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires June 11, 2010 02:29 ET (06:29 GMT)