UK: Fuller, Smith & Turner upbeat on prospects
The Eden Springs project is expected to provide water for around 1,000 school children
Fuller, Smith & Turner has said that it is pleased with first-quarter trading and has joined brewing rival Marston's in outperforming the UK beer market.
Fuller's said ahead of its annual general meeting today (29 July) that own-brewed beer sales rose by 2% in volume for the 16 weeks to 23 July. That compares to a UK beer market that shrank by 10% in the three months to the end of June.
The figures show that Fuller's, like its middleweight brewing rival Marston's, has continued to capitalise on renewed demand for ale in the UK, despite the general beer market travails.
Fuller's, which was earlier this month trumped by rival Greene King for the hand of Capital Pub Co, said that trading in the first 16 weeks of its fiscal year has gone well. "Fuller's Inns saw like-for-like sales in its Managed Pubs and Hotels increase by 3.2% in the period, whilst the Tenanted Inns like-for-like profits were up 1%," said the group.
At today's AGM, Fuller's senior independent director Nick MacAndrew will stand down after ten years on the board. He will be replaced by the CEO of C&C Group, John Dunsmore.
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