Fuller, Smith & Turner fell 22.5p to 920p after it reported pre-tax profits down from £19.2m to £18m in the 53 weeks to April 2. It had been thought the group might announce the sale of a site in Hillingdon to Tesco but negotiations are continuing. Like-for like sales at managed sites in the City of London rose 5% last year. The average performance of its 116 managed houses saw like-for-like sales rise 0.4%. Its 118 tenanted pubs enjoyed a 3% uplift in annual turnover per house and average profits up 5%. Turnover at Fuller’s Beer Company, rose 5%. The London Pride brand failed to increase sales volumes for the first time in its 46-year history although it increased market share in a cask ale market declining at 6%. The company said it had no intention of following Young’s and scrapping its B shares. The Times (Money & Business) 11/06/05 page 62 (Need to know), page 68