Fuller’s ‘primed for strong Christmas’ as bookings surge

Pub group Fuller’s has said it is set for bumper Christmas trading as customers shrug off continued pressure from inflation.

Shares in the company rose on Wednesday morning after it reported higher profits and revenues for the past six months and provided an upbeat outlook.

Fuller’s, which owns 376 pubs and hotels across the country, said it is “primed for a strong Christmas”, with bookings up 11% compared with last year.

It comes amid a challenging backdrop for hospitality companies, which have come under pressure from soaring energy and food bills over the past year, as well as concerns over consumer spending.

Chief executive Simon Emeny said Fuller’s has made “strong progress” this year, despite the “challenging economic environment”.

It came as company reported a £14.9 million pre-tax profit for the six months to September 30, jumping from £10.7 million a year earlier.

Meanwhile, revenues for the six-month period rose by 12% to £188.8 million.

Fuller’s said higher sales were particularly boosted by strong food trade, which increased 15.5% year-on-year, as it also benefited from higher pricing.

Revenues from accommodation grew by 13.4%, while its drink sales grew 10.9%.

The firm also benefited from the return of office workers and tourists into London, highlighting that pubs in the City are again “becoming a seven-day operation”.

Mr Emeny said the company has seen this sales growth continue in recent weeks.

“We have continued with our strong progress since the period end, with like-for-like sales for the first 32 weeks of the year growing by 11.7%.

“Trading in the City continues to grow and, although we cannot rule out further Tube or train strikes, we are looking forward to a good Christmas.

“With exciting plans in the pipeline, we are looking forward to the second half of the year with confidence.”