By Jack Mendel
Pub and hotel chain Fuller, Smith & Turner, reported strong Christmas and New Year sales driving growth last year.
Fuller’s, which operates almost 400 pubs and inns, said in the 42 weeks leading up to 20 January, its sales growth was at 11.5 per cent, driven by the festive period.
The pub chain said for the five-week Christmas and New Year slot, often seen as a windfall for many in the hospitality sector, its sales were up by 21.6 per cent on the previous year.
This comes as pubs and restaurants have been battling high costs driven by both inflation and the impact of geopolitical problems, including the war in Ukraine which has driven up beer prices.
Fuller’s, which is listed and was founded in 1845 in West London, up until 2019 still had a brewery in the capital.
Hospitality is also preparing for increasing costs with the implementation of the new national living wage, and increasing business costs, which will keep pressure on their finances.
Its chief executive Simon Emeny said the “business is in great shape. While we continue to see the impact of a challenging economic environment, we are positive about the future and confident of meeting market expectations for the full year”.
Emeny added: “Looking forward, while we face significant rises in the National Living Wage and Business Rates, we have exciting plans in place to grow the business. These include a number of high-profile, trade-enhancing investment schemes in our existing estate, which will ensure we continue to build on our current momentum.”
It will issue its full-year results on 30 March.
