November 18, 2016 / 7:11 AM / 3 years ago

BRIEF-Fuller Smith & Turner says H1 adj. pretax profit at 22.8 mln stg vs 21.6 mln stg yr ago

Nov 18 (Reuters) - Fuller Smith & Turner Plc :

* H1 ebitda up 9 pct to £36.3 million (2015/16: £33.3 million)

* H1 adjusted profit before tax up 6 pct to £22.8 million (2015/16: £21.6 million)

* Managed pubs and hotels grew like for like sales by 3.4 pct, supported by further growth in food, with a rise in operating profit before exceptional items of 6 pct

* Managed pubs and hotels like for like sales up by 2.6 pct for 33 weeks

* Tenanted inns like for like profit down by 2 pct for 33 weeks

* “trading since period end has been good and as expected, with comparisons to last year being heavily influenced by 2015 rugby world cup”

* For first 33 weeks, like for like sales in managed pubs and hotels grew 2.6 pct, tenanted inns like for like profits declined 2 pct and fuller’s beer company volumes fell 5 pct

* Tenanted inns operating profit before exceptional items marginally down 1 pct and like for like profit down 2 pct

* Craft beer brands showed strong growth for fuller’s beer company and operating profit before exceptional items rose by 8 pct

* Total beer and cider volumes decreased by 4 pct

* Total beer and cider volumes down by 5 pct for 33 weeks

* “There is no doubt that UK economy is facing some significant challenges”

* H1 pretax profit 21.4 million stg versus 21.2 million stg year ago

* Interim dividend up 5 percent to 7.25 penceper share

* H1 revenue rose 11 percent to 197.6 million stg Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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