11th Jun 2025 10:57
(Alliance News) - Fuller, Smith & Turner PLC on Wednesday said profit more than doubled in its recent financial year, as the pub chain recorded sales growth from food, drink and accommodation.
It also said its board chair will change next month.
London-based Fuller's has 185 managed pubs and hotels across southern England, plus 153 tenanted inns. It sold its beer brewing arm to Japan's Asahi Group Holdings Ltd in 2019.
Pretax profit jumped to GBP33.8 million in the year that ended March 29 from GBP14.4 million the year before, as revenue rose 4.8% to GBP376.3 million from GBP359.1 million.
Adjusted measures also were higher. Adjusted pretax profit was GBP27.0 million, up 32% from GBP20.5 million. Adjusted earnings before interest, tax, depreciation and amortisation was GBP67.6 million, up 11% from GBP60.8 million.
In response, Fuller's raised its dividend by 13% to 19.76 pence from 17.75p. Additionally, it bought back 6.5 million shares at an average price of GBP6.13, and it started a new buyback in March for a million shares.
Fuller's shares were down 2.2% to 630.00p on Wednesday morning in London.
On a like-for-like basis, food sales increased by 4.8% last year, drink sales by 5.3%, and accommodation sales by 5.4%.
In the first 10 weeks of the new financial year, like-for-like sales are up 4.2%, the company said. It will release half-year results on November 25.
Fuller's invested GBP28 million into its pub estate during the recent year, including major renovations of 14 pubs. It sold 38 pubs for GBP38.3 million in total and bought Lovely Pubs, with 7 pubs, for GBP22.5 million.
Michael Turner will retire as chair at the company's annual general meeting on July 22, after 47 years at the company that carries his name and 18 as chair. Chief Executive Simon Emeny will become executive chair.
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Fuller Smith & Turner