Fuller’s toasts ‘excellent’ FY2025
Fuller, Smith & Turner P.L.C. has released its Full Year Results 2025, with the pub operator reporting rises in both food and drink sales in the 52 weeks to 29 March 2025. The post Fuller’s toasts ‘excellent’ FY2025 appeared first on The Drinks Business.
Fuller, Smith & Turner P.L.C. has released its Full Year Results 2025, with the pub operator reporting rises in both food and drink sales in the 52 weeks to 29 March 2025.
Like-for-like sales of food across Fuller's pubs were up 4.8% and for drinks it increased by 5.3%, and overall revenue rose to £376.3 million, a 4.8% increase on FY2024's figure of £359.1m.
Adjusted profit before tax increased by 32%, going from £20.5m to £27m.
In summer 2024, Fuller's completed its sale of 37 non-core tenanted pubs to Admiral Taverns, an £18.3m transaction which the company claims helped profitability in FY2025.
£28m has been invested into the existing Fuller's estate, with one example being the The Head of the River in Oxford becoming a fully electric hotel. Plus, for £22.5m, seven new pubs were acquired as a result of August's acquisition of Lovely Pubs.
As a result of this activity, adjusted earnings per share grew by 40%, jumping from 24.48p to 34.22p. Fuller's also noted that it completed its initial share buyback programme, with 6.5 million ‘A’ shares re-acquired (these had an average price of £6.13, 26% less than their price in 2021) – a second share buyback programme was launched in March of this year.
Chief executive Simon Emeny, who is due to replace Michael Turner as chairman this July, described FY2025 as "an excellent year for Fuller’s" that built upon the company's "existing momentum".
"We have started the new financial year well with like for like sales in the first 10 weeks of the year rising by 4.2%," said Emeny. "We have completed our investment at The Chamberlain in the City of London, one of our largest hotel sites, which reopened in May and we have a number of clear priorities for the year focused on our properties, our people and our customer proposition."
Like-for-like sales of food across Fuller's pubs were up 4.8% and for drinks it increased by 5.3%, and overall revenue rose to £376.3 million, a 4.8% increase on FY2024's figure of £359.1m.
Adjusted profit before tax increased by 32%, going from £20.5m to £27m.
In summer 2024, Fuller's completed its sale of 37 non-core tenanted pubs to Admiral Taverns, an £18.3m transaction which the company claims helped profitability in FY2025.
£28m has been invested into the existing Fuller's estate, with one example being the The Head of the River in Oxford becoming a fully electric hotel. Plus, for £22.5m, seven new pubs were acquired as a result of August's acquisition of Lovely Pubs.
As a result of this activity, adjusted earnings per share grew by 40%, jumping from 24.48p to 34.22p. Fuller's also noted that it completed its initial share buyback programme, with 6.5 million ‘A’ shares re-acquired (these had an average price of £6.13, 26% less than their price in 2021) – a second share buyback programme was launched in March of this year.
Chief executive Simon Emeny, who is due to replace Michael Turner as chairman this July, described FY2025 as "an excellent year for Fuller’s" that built upon the company's "existing momentum".
"We have started the new financial year well with like for like sales in the first 10 weeks of the year rising by 4.2%," said Emeny. "We have completed our investment at The Chamberlain in the City of London, one of our largest hotel sites, which reopened in May and we have a number of clear priorities for the year focused on our properties, our people and our customer proposition." 
