REG-Fuller, Smith & Turner PLC Fuller, Smith & Turner PLC: Trading Update for the 43 weeks to 22 January 2022

Fuller Smith & TurnerAnnouncement

27/01/2022 07:05

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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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