Fullers hails 'excellent' festive trading
By Michele Maatouk
Date: Wednesday 15 Jan 2025
(Sharecast News) - Pub group Fuller, Smith & Turner posted a rise in sales on Wednesday as it hailed "excellent" trading over the festive period.
In the 41 weeks to 11 January, like-for-like sales ticked up 5.9%, with the group maintaining its market outperformance. Over the key five-week Christmas and New Year period, LFL sales grew 10.2%, with a "consistent" performance across all parts of the estate.
Chief Executive, Simon Emeny, said: "As we move into the last few months of this financial year, we continue to focus on delivering long term returns as well as preparing for the year ahead. Our share buyback programme is on-going, with 5.7 million of the planned 6.5 million 'A' shares now repurchased.
"We also continue to invest in our estate - with a number of major projects planned for the final quarter of the current financial year, including a £4 million investment at The Chamberlain Hotel in the City of London, which is already underway.
"We are confident of meeting market expectations for the full year. While we will be facing fresh cost challenges in the new financial year - with increases in Employers' National Insurance Contributions, National Living Wage and Business Rates - we are taking appropriate actions to manage the impact of these market challenges and remain confident and optimistic about the future for our business."
Full-year results are due out on 11 June.
At 1015 GMT, the shares were up 1% at 575.90p.
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10 Lower Thames St,
London EC3R 6EN