Fuller’s is to accelerate investment in its estate and reinforce marketing for its beer company after a surge in sales over the last 10 weeks.
In an update on the 43 weeks to 21 January the company said managed like-for-like sales had risen 3.7% with like-for-like profits in the Tenanted Inns division down by 1% and total beer and cider volumes down 4%.
Managed like for like sales for the last 10 weeks increased by 7.4%, with like-for-like profits in the tenanted division up 2% and total beer and cider volumes up 1%.
Chief executive Simon Emeny said: “Our strategy of sustained investment in our pubs, our brands and our people continues to drive the business forward. In the final quarter, we will be taking advantage of what will be a 53 week year to accelerate investment in our existing estate and reinforce our marketing programme for The Fuller’s Beer Company.
“With our clear vision and exciting initiatives for the coming financial year, we are well placed for the future. However, in common with many other companies we are facing increasing cost pressures including a steep rise in business rates, an increase in the National Living Wage and the introduction of the Apprenticeship Levy, all set against an ever-changing global political and economic backdrop.
“The last 10 weeks have been particularly strong, which is a credit to the whole Fuller’s team.”
The group’s full-year results will be announced on 9 June.
