Trading Update for the 42 weeks to 20 January 2024

25-Jan-2024 / 07:00 GMT/BST

FULLER, SMITH & TURNER P.L.C.

Trading Update

42 weeks to 20 January 2024

Fuller, Smith & Turner P.L.C. (“Fuller’s” or “the Company”), the premium pubs and hotels business, provides the following trading statement for the 42 weeks to 20 January 2024 (“the period”).

Sales for the five week Christmas and New Year period were particularly strong, up 21.6% against the same period last year, driven by a great performance from our pub and hotel teams.

This strong festive trading further builds on the positive momentum experienced across the business over recent months, which has delivered like for like sales growth of 11.5% for the 42 weeks to 20 January 2024.

Chief Executive Simon Emeny said: “I am delighted to see the business continue to deliver strong sales growth. It is testament to the hard work, dedication and energy of our amazing team members who pulled out all the stops to ensure our customers had a brilliant Christmas and New Year.

“The business is in great shape. While we continue to see the impact of a challenging economic environment, we are positive about the future and confident of meeting market expectations for the full year.

“Looking forward, while we face significant rises in the National Living Wage and Business Rates, we have exciting plans in place to grow the business. These include a number of high profile, trade-enhancing investment schemes in our existing estate, which will ensure we continue to build on our current momentum.

“We will next update the market on 13 June 2024, when we announce the Company’s full year results for the 52 weeks to 30 March 2024.”

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Fuller, Smith & Turner P.LC.