25 January 2024 , 12:49
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Pub giant Fuller's has said it is in "great shape" after Christmas and New Year sales surged by more than a fifth.
The Chiswick-based company, which runs 370 venues across the UK, told investors that sales jumped 21.6% over the five-week period around Christmas and New Year, compared with the same period a year earlier. It said the rise was driven by "great performance" across both its pubs and hotels.
It comes days after rivals including JD wetherspoons >Wetherspoon and Marston's also revealed a lift in festive sales as customers appeared to shrug off pressure from the higher cost of living to celebrate Christmas parties and dine out. Simon Emeny, chief executive of Fuller's, said the firm still sees the impact of the "challenging economic environment" but is positive about its trading future.
He said: "I am delighted to see the business continue to deliver strong sales growth. It is testament to the hard work, dedication and energy of our amazing team members who pulled out all the stops to ensure our customers had a brilliant Christmas and New Year. The business is in great shape."
Fuller's reported that like-for-like sales have grown by 11.5% for the financial year so far, covering the 42 weeks to January 20. The boss added that Fuller's will face upcoming rises in the national living wage and business rate property taxes, but has "exciting plans" to help grow the business.
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"These include a number of high-profile, trade-enhancing investment schemes in our existing estate, which will ensure we continue to build on our current momentum," Mr Emeny said. Shares in the company moved 1.7% higher to 698p in early trading. The company said it will next update investors with its full-year results in June.