New Year was ‘bigger than Christmas’ for pub company Fuller’sComments Off on New Year was ‘bigger than Christmas’ for pub company Fuller’s
“We had a fantastic Christmas but perhaps an even better New Year,” said chief executive Simon Emeny.
“We recently opened the Admiralty on Trafalgar Square, and have plenty of premium pubs around the fireworks which did really well.”
Sales from managed pubs rose 6.8% in the 43 weeks to last Saturday, continuing a run of outperforming the wider pub market.
Fuller’s has not resorted to cut-price deals, and so preserved its margins.
“We are a premium pub company,” said Emeny. “We don’t take part in discounting.”
Fuller’s said it has recently bought more premium sites, including the Cromwell Arms in Romsey, a pub with 10 bedrooms. It also acquired the Three Guineas at Reading station to take advantage of Crossrail’s opening in 2018.
Debt rose slightly as a result, but Emeny said the company is on track to meet its expectations for the full year.