London-based pub company Fuller’s has issued its latest trading statement for the 16 weeks to 16th July 2022, revealing a 3% growth in total sales on pre-pandemic levels and up 81% on the same period last year. Like for like sales were also up 27% on last year.
During the period, the company has acquired one new site – The Queen’s Arms, landside at Heathrow Terminal Two, The Queen’s Terminal – which will open in early August 2022. A further three sites are in advanced stages of negotiation.
Chief executive Simon Emeny said: “We are pleased with our sales growth trajectory, particularly in our Central London sites where momentum is building well.
“The industry-wide inflationary cost pressures around food supply, labour and particularly energy are showing little signs of abating. Our premium offer and effective supply chain management provide a degree of protection, but we are not immune from its effects on costs or consumer behaviour.
“Fuller’s is a long-term business with a strong balance sheet, a clear strategy, and great people to execute it. Hospitality continues to bear the brunt of many challenging external factors, but we remain confident that Fuller’s is well placed to continue to prosper.”