FULLER, SMITH & TURNER P.L.C. – Growing in the Fuller’s Way

Fuller, Smith and Turner P.L.C. is an independent traditional family brewer founded in 1845 and is based at the historic Griffin Brewery in Chiswick, London, where brewing has taken place continuously since 1654. As of today [8 June 2018], the Company runs 179 Tenanted pubs and 209 Managed Pubs and Hotels, with a focus on delicious fresh, home-cooked food, outstanding cask and craft ale, great wine and exceptional service. The Company also has 781 boutique bedrooms in its Managed estate. The Fuller’s pub estate stretches from Brighton to Birmingham and from Bristol to the Greenwich Peninsula, including 174 locations within the M25. Fuller’s owns The Stable, a craft cider and gourmet pizza restaurant business, which has 17 sites in England and Wales.

Current Trading: 

  • Managed Pubs and Hotels like for like sales up by 2.5% (2017: +6.6%) in first nine weeks
  • Tenanted Inns like for like profits up 2% (2017: +5%) for first nine weeks
  • Own beer and cider volumes down 3% (2017: +7%) in first nine weeks
  • Acquired four well-located City bars from We Are Bar Group
  • Acquisition of Bel & The Dragon, comprising six iconic pubs that are a perfect fit with Fuller’s premium pub portfolio
  • Investment in new pilot brewery and improved visitor experience will increase innovation from our brewing team and truly showcase our iconic Chiswick brewery to the burgeoning ranks of beer enthusiasts
  • Resilient, well-balanced business model, clear vision, excellent balance sheet and strong management team combine to put Fuller’s in a good position to continue to deliver growth.

Commenting on the results, Chief Executive Simon Emeny said: “The year has seen another good performance with a solid set of results, particularly from Fuller’s Inns. It has been a year of building for the future – with a number of internal projects coming to fruition. In February we were delighted to acquire Dark Star Brewing, a craft cask brewer in Sussex, and since the year end we have purchased an additional 10 excellent sites.

While we are still in a time of national and global uncertainty – and we do not underestimate the related wider market and economic issues that we will have to navigate over the months ahead – we believe we are in a strong position.

Pursuant to Listing Rule 9.6.11, the Company announces that, with effect from 1 July 2018, Peter Swinburn will take on the role of Senior Independent Director. He will be taking over from John Dunsmore who has held this position for the last seven years. John Dunsmore will remain on the Board until the Annual General Meeting in July 2019.