As the news broke this morning about Fuller's selling its beer business to Asahi for £250m, the company stated that performance was very strong in the 42 weeks to 19 January, led by Managed Pubs and Hotels, where like-for-like sales rose 5.6% in the last 10 weeks.
For the 42 week period, like-for-like sales in Managed Pubs and Hotels rose 4.7%, like for like profits in Tenanted Inns gained 2% and total beer and cider volumes in The Fuller’s Beer Company had remained level.
Simon Emeny, Chief Executive, (pictured) said, 'This is a very good set of figures and I’m particularly pleased with the way our Managed Pubs and Hotels performed over the important five week Christmas and New Year trading period. Like for like sales for December rose 8.7 per cent and our pre-booked covers rose by 16 per cent.'
'Since we last reported, we have opened our latest transport hub site, The Signal Box at Euston, which is proving very popular and have refurbished The Blackbird at Earl’s Court, including developing nine new boutique bedrooms.'
'We are on site at The Hercules in Lambeth, which will open before the year end, and in the next few weeks we will open 15 stylish new bedrooms at The Counting House in Cornhill, a large freehold site in the heart of the City of London. We have also transferred another six tenancies to our turnover agreement.'
Regarding the aforementioned sale of the beer business, Emeny said, 'Brewing has formed an integral part of our history and brand identity, however the core of Fuller’s and the driver of our future growth is now our premium pubs and hotels business.'