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Fullers ahead despite soaring costs
Mon, 01 Dec, 2008
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Fullers ahead despite soaring costs
Fri, 6 Jun 2008, 08:03:00
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Related Market Prices
Name
Value
Percent
Change
Fuller Smith and Turner
352.00p
-1.54%
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Pub owner, brewer and hotel group <b>Fuller, Smith & Turner</b> beat profit forecasts last year despite swingeing increaes in raw material costs that have continued to rise.<br /><br />Underlying profits rose by 4% to £23m, on revenues up 2% to £181m in the year to March. Revenues rose 2% to £181.1m. Pre-tax profits were £23.8m compared with £42.2m including disposal gains.<br /><br />This year so far like for like sales in the managed pubs and hotels are up by 2.4% for the nine weeks to 31 May, though Fullers is wary on rising costs.<br /><br />Current inflationary pressures in the UK, particularly on grain, food and energy, are pushing up costs, it says, with the group's gas and electricity bill tipped to rise by £1.2m alone, but Fullers says it intends hold gross margins across both retail and brewing operations.<br /><br />The dividend for the year goes up 7% to 9.7p.<br /><br /><br /><br />
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