Stock Exchange announcements
23-Jul-2008: Interim Management Statement
INTERIM MANAGEMENT STATEMENT
16 weeks to 19 July 2008
Fuller, Smith & Turner P.L.C., today made the following Interim Management Statement in respect of the period from 30 March 2008 to 19 July 2008, in advance of the Company’s Annual General Meeting to be held at 11.00 am, 23 July 2008, in the Hock Cellar, Griffin Brewery, Chiswick, London W4 2QB.
The Company’s performance remains robust in what continues to be a challenging market. Fuller’s Inns, the Group’s pub and hotel division, saw invested like for like sales in its managed pubs increase by 2.7% in the first 16 weeks to 19 July 2008. The Fuller’s Beer Company’s own brewed beer volumes remained in growth against the backdrop of a falling beer market.
The inflationary impact on our costs has increased and, despite our solid trading performance, there are many signs that the UK consumer is also feeling the squeeze. Our future results remain dependent on these factors, but the performance of the business is currently in line with our expectations.
Michael Turner, Chairman, commented as follows:
“I am satisfied with our performance in these turbulent times for the UK economy. Our results show that our pub customers continue to enjoy the pleasures of our outstanding cask conditioned ales, delicious food, great wines and exemplary service. Our long-term strategy of focusing on quality, cash generation and a strong balance sheet continues to prove to be resilient and, we believe, is the right strategy for our shareholders.”
The next report will be on 21 November 2008 when the Group issues its half year accounts for the 26 weeks to 27 September 2008.
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For further information, please contact:
Fuller, Smith & Turner P.L.C.
Press Office 020 8996 2175/2198/2048
Mobile: 07831 299 801/07748 657 854
Michael Turner: Press 020 8996 2048
James Douglas: Analysts 020 8996 2048
Merlin 020 7653 6620
Anja Kharlamova 07887 884 788 (mobile)
Category: Interim Management Statement