23-Jul-2010: Interim Management Statement
FULLER, SMITH & TURNER P.L.C.
INTERIM MANAGEMENT STATEMENT
16 weeks to 17 July 2010
Fuller, Smith & Turner P.L.C. today made the following Interim Management
Statement for the 16 week period from 28 March 2010 to 17 July 2010, in advance
of the Company's Annual General Meeting to be held at 11.00 am, 23 July 2010,
in the Hock Cellar, Griffin Brewery, Chiswick, London W4 2QB.
The Company has traded well in the first 16 weeks to 17 July 2010. Fuller's
Inns saw like for like sales in its Managed Pubs and Hotels increase by 4.1% in
the period, whilst Tenanted like for like profits were up 1%. The Fuller's Beer
Company's own brewed beer volumes declined by 2%.
Cash generation has been strong and net debt at the end of first quarter on 26
June 2010 had fallen to £102.0 million, from £107.7 million on 27 March 2010,
with net debt to EBITDA down to 2.3 times.
Michael Turner, Chairman, commented as follows:
`Fuller's has started the year well. In the first 16 weeks of this year, our
Managed Pubs and Hotels like for like sales increase of 4.1% is again amongst
the very best in our sector. After some glorious summer weather there are
economic clouds on the horizon, but I am confident that our strategy ensures
the Company is well placed to deliver for its shareholders even in these
continuing uncertain times.'
The next report will be on 19 November 2010 when the Company issues its half
year report for the 26 weeks to 25 September 2010.
- Ends -
For further information, please contact:
Fuller, Smith & Turner P.L.C.
Press Office 020 8996 2198/2048/2175
Mobile: 07824 815 366
E: pr@fullers.co.uk
Michael Turner: Press 020 8996 2048
James Douglas: Analysts 020 8996 2048
Merlin 020 7653 6620
Paul Downes 07900 244 888 (mobile)
Toby Bates 07930 480 391 (mobile)
END
Enquiries:
Category: Interim Management Statement
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.