Fuller, Smith & Turner, the London-based brewer and pub operator, this morning reported a “robust” performance for the 16 weeks to to 19 July, with like-for-like sales in Fuller’s Inns, its pub and hotel division up 2.7%.
In an interim management statement, the company said its “performance remains robust in what continues to be a challenging market”.
The firm said its Fuller’s Beer Company’s own-brewed beer volumes remained in growth, against the backdrop of a falling beer market. It said: “The inflationary impact on our costs has increased and, despite our solid trading performance, there are many signs that the UK consumer is also feeling the squeeze. Our future results remain dependent on these factors, but the performance of the business is currently in line with our expectations.”
Michael Turner, chairman, said: “I am satisfied with our performance in these turbulent times for the UK economy. Our results show that our pub customers continue to enjoy the pleasures of our outstanding cask conditioned ales, delicious food, great wines and exemplary service. Our long-term strategy of focusing on quality, cash generation and a strong balance sheet continues to prove to be resilient and, we believe, is the right strategy for our shareholders.”