Brewer Fuller's lifted by new acquisitions

New pub acquisitions boosted brewer Fuller, Smith & Turner in the six months to September, as revenue jumped eight per cent despite a washout summer.

Two pubs – in Brighton and Waterloo – were acquired over the six months, and a further two have been bought since the end of September, flattering the increase in revenue to £137.9m.

Managed pub and hotel profits were up five per cent, and like for like sales up 1.6 per cent, despite what the pub group labelled the “wettest summer in 100 years”.

Adjusted pre-tax profit was up four per cent to £17.1m.

Despite the uncertain economic outlook, chairman Michael Turner hailed the Olympic boost for Fuller’s.

“We have no doubt that Fuller’s historic London heritage and iconic brands will receive an enduring boost for many years to come from this unique summer,” he said this morning.