Inflation not snow bothers Fuller's

28th Jan 2011 07:15

There were few problems with snow in December for London-based pub owner and brewer Fuller's.Like for like sales in core Managed Pubs and Hotels business grew by 3.7% over the 10 weeks to 22 January, bringing the like for like sales growth for the 43 weeks to 3.5%.Like for like profits in the Tenanted Inns division were flat, while volumes for brewing arm the Fuller's Beer Company for the 17 weeks to 22 January 2011 grew 1%, with a 1% decrease for the 43 weeks."January has started with the VAT increase and further tax rises, including thedamaging duty escalator, and Government spending cuts are set to follow.Despite this we are confident that we will meet our expectations for the fullfinancial year," the firm said."Looking further ahead to 2011/12, cost inflation is becoming an issue and we are concerned that in these uncertain times our customers may have less discretionary spend," it added.