Business

Brewer Fuller sees profits rise

People drinking London Pride
Image caption Fuller's brews London Pride

Brewer and pub operator Fuller, Smith & Turner says it has made "outstanding progress" after reporting a 17% rise in annual profits.

Adjusted pre-tax profits were £26.6m for the year to 27 March.

Revenues climbed 8% to £227.7m. Sales of its own beer rose 2% and were "particularly pleasing", Fuller said.

The Chiswick-based group fared better in the recession than many rivals as consumers in the Greater London area proved more economically resilient.

"We have made a solid start to the new financial year with like-for-like sales in our managed pubs and hotels growing by 3.5% for the 10 weeks to 5 June 2010," chairman Michael Turner said.

"For the same period own beer volumes are level with last year, with weakness in the UK On Trade market offset by continued growth elsewhere, particularly exports."

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