UK: Beer exports boost Fuller's FY sales, profits
- Full-year net profits up 3.6% to GBP29.1m (US$48.9m)
- Net sales rise 6.1% to GBP288m
- Operating profits up 7% to GBP38m
- Exports show strongest growth for beer, cider volumes
Fuller's launched Frontier a year ago in the UK
UK brewer and pub operator Fuller's has reported strong full-year sales and profits, helped by growth in its export beer volumes.
The London-based company saw group net profits in the 12 months to the end of March rise by 3.6% to GBP29.1m (US$48.9m), it said late last week. Sales in the period climed by 6.1% to GBP288m, while operating profits were up 7% to GBP38m.
The group's brewing unit saw beer and cider volumes edge up by 1%, with “exports showing the strongest growth”. Sales for the beer unit rose 2% to GPB115.8m in the year.
Simon Emeny, CEO of Fuller's, said it had been a “year of change” for the brewing unit with “foundation blocks being laid for the future”. In March, the company secured the UK distribution rights for Sierra Nevada's beers.
Over the financial year, Fuller's also acquired cider group Cornish Orchards, launched craft lager Frontier and set up distributor Westside Drinks.
The company reported an 8% lift in full-year sales for its managed pubs and hotels unit. Its tenanted pubs division reported a 2% rise in sales to GBP31.3m, while profits were up 1% to GBP12.3m.
To read the company's full statement, click here
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