Beer Group Enjoy Strong Profits

Thu, 17 Jun 2010

Pub group and brewer Fuller, Smith and Turner has reported a 17 per cent increase in profits for the past financial year. Pre-tax profits rose to £26.6 million, while total revenue was also up, by 8 per cent to £227.7 million. There was a 2.7 per cent increase in like-for-like sales at hotels and managed pubs, while Fuller’s Beer Company enjoyed a 7 per cent increase in operating profits, which rose to £8.9 million. The results do, however, exclude exceptional items. Strong cask ale sales helped to drive the impressive results.

Managing director of Fuller’s Inns, Simon Emeny, said that the results were all the more impressive bearing in mind the legislation which has been passed in recent years which has made conditions difficult for the pub industry. In particular, the 26 per cent increase in alcohol duty has eroded the profit margins of all pubs and brewers .

Emeny called for the new coalition government to change the approach taken towards the low price of alcohol in supermarkets, with super strong spirits, ciders and lagers available for extremely low prices, making it harder for pubs to compete.
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