You are here:

Stock Exchange announcements

FST cartouche (photographic) smallest

08-Jun-2007: Final Results

FULLER, SMITH & TURNER P.L.C.

Financial results for the 52 weeks ended 31 March 2007
Reported under International Financial Reporting Standards (IFRS)

Financial Highlights

· Revenue up 23% to £178.2 million (2006: £145.1 million)
· Operating profits up 31% to £29.4m (2006: £22.4m)
· Adjusted profits1 up 23% to £22.1 million (2006: £17.9 million)
· Exceptional profits of £20.1 million (2006: loss of £2.6 million)
· Profits before tax up 176% to £42.3 million (2006: £15.3 million)
· EBITDA2 up 27% to £40.7 million (2006: £32.1 million)
· Adjusted earnings per share3up 26% to 68.94p (2006: 54.67p)
· Basic earnings per share4 up 181% to 130.34p (2006: 46.40p)
· Proposed final dividend per share4 increased 15% to 16.25p (2006: 14.12p)
· Proposed five for two share split to rebase share price and enhance liquidity

Corporate Progress
· All areas of the business have performed well
· Managed Pubs profits up 41%; uninvested like for like sales up 6.7%
· Tenanted Inns profits up 40%
· Beer Company profits up 12%
· Interest costs up £3.2 million
· Two hotels sold for £35.6 million
· Eight new pubs acquired during the year
1 Adjusted profit is the profit before tax excluding exceptional items.
2 Pre-exceptional earnings before interest, tax, depreciation and amortisation.
3 Calculated using adjusted profits after tax and the same weighted average number of shares as for the basic earnings per share and using a £1 ordinary share.
4 Calculated on a £1 ordinary share.


Commenting on the results, Anthony Fuller, Chairman of Fuller’s, said:

“It has been an exceptional year, boosted by the addition of a full year’s contribution from the Gales business, the profits generated from the sale of two hotels, and strong underlying growth. This year also saw Fuller’s become London’s last remaining traditional brewer.
“The current financial year has started well and is in line with expectations. With new acquisitions, continuing investment in our estate, and the quality of our award-winning premium brands, the Board is confident of the prospects for the continued success of the group.”

- Ends -

For further information, please contact:

Fuller Smith & Turner P.L.C.


Press Office
020 8996 2175/2198/2048
Mobile 07831 299801/ 07748 657854


E-mail: pr@fullers.co.uk

Michael Turner, Chief Executive: Press
020 8996 2048

Paul Clarke, Finance Director: Analysts
020 8996 2048




Merlin
020 7653 6620

Paul Downes
07900 244 888 (mobile)

Vanessa Maydon
07802 961 902 (mobile)

Anja Kharlamova
07887 884 788 (mobile)




Notes to Editors
For an official photo please e-mail photo@fullers.co.uk and one will automatically be sent by return on receipt of your e-mail.

Michael Turner & Paul Clarke toast Fuller's results outside The Still & West

Enquiries: Fuller's Press Office - 020 8996 2175 - pr@fullers.co.uk
Category: Final Results

This page was printed from the website of Fuller, Smith & Turner P.L.C at http://www.fullers.co.uk/