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Fuller, Smith & Turner PLC (FSTA)
Fuller, Smith & Turner PLC: Trading Update for the 43 weeks to 22 January
2022
27-Jan-2022 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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27 January 2022
FULLER, SMITH & TURNER P.L.C.
Trading Update for the 43 weeks to 22 January 2022
Fuller, Smith & Turner P.L.C. ("Fuller's" or "the Company"), the premium
pubs and hotels business, today announces its trading update for the 43
weeks to 22 January 2022 ("the period").
We fully reopened the estate on 19 July 2021 and had delivered a steadily
improving trading performance, with our managed like for like sales
reaching 90% of 2019 levels, prior to the emergence of the Omicron Covid
variant in early December.
The enhanced Covid restrictions introduced by the Government in response
to Omicron, including the guidance to work from home, impacted our trade
during the important festive and new year period. Office Christmas
parties were cancelled, and City workers stayed at home, leading to
managed like for like sales in the four weeks to 1 January 2022 reducing
to 72% of 2019 levels.
Since the new year, we have seen an improving trading position, such that
for the 43 weeks to 22 January 2022 our managed like for like sales have
traded at 81% of pre-pandemic levels. Following last week's welcome
announcement from the Government to remove the working from home guidance
and the lifting of other restrictions in England, we have gained further
momentum as consumer confidence returns.
Simon Emeny, Chief Executive, said: "We are seeing an improvement in trade
and expect that to quicken further now that the Government has lifted
Covid restrictions. We saw sales rise steadily in the City after previous
lockdowns, and recent trading patterns suggest that there is a strong
desire among many workers to return to office working. In addition, we
expect to see a rise in the number of international tourists, which will
benefit our London pubs and those in other tourist destinations.
"I am confident about the future, especially as we move towards business
as usual and an end to Government intervention. Our estate of iconic,
well-located pubs is in great shape, and we have a busy pipeline of
investments due to complete during the last quarter of the financial year.
"We will next update the market on 9 June 2022, when we announce the
Company's full year results for the 52 weeks to 26 March 2022."
For further information, please contact:
Fuller, Smith & Turner P.LC.
Simon Emeny, Chief Executive 020 8996 2000
Neil Smith, Finance Director 020 8996 2000
Georgina Wald, Corporate Comms Manager 020 8996 2198 / 07831 299801
Instinctif Partners
Justine Warren 020 7457 2020
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 209 managed businesses, with 1,027
boutique bedrooms, and 175 Tenanted Inns. The estate is predominately
located in the South of England (44% 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 15 iconic Ale & Pie pubs,
seven stunning hotels in the Cotswolds, and Bel & The Dragon - seven
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: 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.: 139109
EQS News ID: 1273328
End of Announcement EQS News Service
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