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

Fuller Smith & TurnerAnnouncement

20/07/2023 07:15

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

   20-Jul-2023 / 07:00 GMT/BST

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   20 July 2023

                                        

                                        

                         FULLER, SMITH & TURNER P.L.C.

                             AGM Trading Statement

                            15 weeks to 15 July 2023

                                        

                                        

   Fuller, Smith & Turner P.L.C. (“Fuller’s” or “the Company”), the premium
   pubs and hotels business, provides the following trading statement in
   advance of the Company's Annual General Meeting to be held today, 20 July
   2023, at 11am in The Boston Room, The George IV, 185 Chiswick High Road,
   London W4 2DR.

    

   The Company has continued to make strong progress with total sales for the
   first 15 weeks rising by 17.1% and like for like sales for the same period
   rising by 15.1%. Increased tourism and events, along with workers
   returning to their offices, have contributed to like for like sales growth
   of 17.9% in our City and Central London sites.

    

   Given the strong start to the year and having declared a total dividend of
   14.68p per 40p ‘A’ and ‘C’ share for FY2023 (an increase of 30% on the
   previous year), the Board has decided to commence the repurchase of up to
   one million ‘A’ shares in line with our capital allocation framework. 

    

   Chief Executive Simon Emeny said: “We are very pleased to have delivered a
   strong start to the year. The hard work of our teams, coupled with
   London’s continued recovery, is driving strong sales momentum.

    

   “Our comprehensive strategy, combined with the investments we have made in
   our people, infrastructure, marketing and estate, is delivering excellent
   results; and while cost inflation and the ongoing train and tube strikes
   continue to present challenges, we are pleased with our progress.

    

   “We have a clear vision and the best people in the sector to take the
   Company forward, grow the business, and deliver excellent returns for all
   our stakeholders. I look forward to providing a further update on 16
   November 2023 when we will issue our half year results for the 26 weeks to
   30 September 2023.”

    

                                    - Ends –

    

    

   For further information, please contact:

    

   Fuller, Smith & Turner P.L.C.

   Simon Emeny, Chief Executive (press)  020 8996 2000

   Neil Smith, 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. Our purpose in life is to create experiences that
   nourish the soul. Fuller’s has 197 managed businesses, with 1,009 boutique
   bedrooms, and 179 Tenanted Inns. The estate is predominately located in
   the South of England (43% of sites are within the M25) and stretches from
   our London heartland to the Jurassic Coast via the New Forest. Our Managed
   Pubs and Hotels include Cotswold Inns & Hotels – seven stunning hotels in
   the Cotswolds, and Bel & The Dragon – six exquisite modern English 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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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B1YPC344
   Category Code:  TST
   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.:   258850
   EQS News ID:    1683921


    
   End of Announcement EQS News Service

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