REG-Fuller, Smith & Turner PLC Fuller, Smith & Turner PLC: AGM Trading Statement

Fuller Smith & TurnerAnnouncement

10/09/2020 07:00

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   Fuller, Smith & Turner PLC (FSTA)
   Fuller, Smith & Turner PLC: AGM Trading Statement

   10-Sep-2020 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   10 September 2020

                         FULLER, SMITH & TURNER P.L.C.

                             AGM Trading Statement

                          23 Weeks to 5 September 2020

                                        

   Fuller, Smith & Turner P.L.C. ("Fuller's" or "the Company"), the premium
   pubs and hotels business, today makes the following trading statement for
   the 23 weeks from 29 March 2020 to 5 September 2020 ("the period"), in
   advance of the Company's Annual General Meeting to be held today [10
   September 2020] at 10am.

   Having started the financial year with the entire estate closed, Fuller's
   began a phased reopening of its Managed business on 4 July 2020 and, by
   the end of August, 169 sites had reopened. The Company has reopened a
   further 23 sites during September and over 90% of its Managed Pubs and
   Hotels are now open for business. Almost all Tenanted Inns have also now
   reopened, and commercial rent was reintroduced for Fuller's Tenants on a
   tapered basis from August.

    

   Sales in those Managed Pubs and Hotels that have reopened since 4 July
   2020 have grown steadily and are 80% of last year's on a like for like
   basis. Trading across the Fuller's estate in August was buoyed by the
   Government's Eat Out to Help Out scheme, which grew trade and encouraged
   consumers to come back to the pub, reinstating it in their routine.
   Business has also been strong in Cotswold Inns & Hotels, which Fuller's
   acquired in October 2019, where staycationers have led to near full
   occupancy.

    

   With its well-invested, predominately freehold estate and strong balance
   sheet, Fuller's is well-positioned to navigate any challenges ahead and to
   capitalise on suitable opportunities that might arise.

    

   Chief Executive Simon Emeny said: "We are still at the start of a return
   to normality, but we are quietly confident with the way business is
   progressing. Fuller's has long extolled the virtue of a balanced estate,
   both in terms of style and geography, and that has been borne out in the
   current climate with stronger trading in suburban and countryside
   locations compensating for the initial lack of footfall in our town and
   city centres. Recent investments in our gardens and accommodation have
   helped us benefit from both the customers' desire to be outside and the
   growth in domestic tourism.

    

   "It has been an incredibly challenging time. We have implemented a clear
   strategy with our phased reopening plan that included introducing a number
   of digital-led initiatives to improve the customer journey, taking every
   possible step to keep our teams and our customers safe, and keeping a
   tight focus on costs.

    

   "The Fuller's experience is centered around warm and inviting pubs and
   hotels in iconic locations with delicious fresh food, a vibrant portfolio
   of drinks, beautiful bedrooms and exceptional customer service. It is a
   credit to our team members that they have quickly adapted to new ways of
   working and continue to deliver that great Fuller's experience to our
   discerning customers."

    

                                    - Ends -

   For further information, please contact:

    

   Fuller, Smith & Turner P.L.C.

   Simon Emeny, Chief Executive (press)  020 8996 2000

   Adam Councell, Finance Director (analysts) 020 8996 2000

   Georgina Wald, Corporate Comms Manager 020 8996 2198

    

   Instinctif Partners

   Justine Warren     020 7457 2010

    

    

   Notes to Editors:

   Fuller, Smith & Turner PLC is the premium pubs and hotels business that is
   famous for beautiful and inviting pubs with delicious fresh food, a
   vibrant and interesting range of drinks, and engaging service from
   passionate people. Fuller's has 213 managed pubs, with 1,028 boutique
   bedrooms, and 178 Tenanted Inns. The estate is predominately located in
   the South of England (44% of sites are within the M25) and stretches from
   our City of London heartland to the Jurassic Coast via the New Forest. Our
   Managed Pubs and Hotels include 15 iconic Ale & Pie pubs, seven stunning
   hotels in the Cotswolds and Bel & The Dragon - six exquisite country inns
   located in the Home Counties. In summary, Fuller's is the home of great
   pubs, outstanding hospitality and passionate people, where everyone is
   welcome and leaves that little bit happier than they arrived.

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   ISIN:           GB00B1YPC344
   Category Code:  AGM
   TIDM:           FSTA
   LEI Code:       213800C7ACOFMRCQQW76
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   83830
   EQS News ID:    1129593


    
   End of Announcement EQS News Service

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