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Fuller's 'delivering good growth'

June 10, 2005: Fuller Smith & Turner, brewer of major cask ale brand London Pride, has announced a fall in pre-tax profits of six per cent to £18m, although the firm says that 'normalised' profits - which represent the underlying progress of the business - rose six per cent to £17.8m.

l Fullers finance director Paul Clarke (left) and chairman Anthony Fuller celebrate a good set of results with a pint of Discovery

The directors are recommending a final divident to shareholders up seven per cent.

"Our investment and marketing programmes are continuing to deliver good growth," commented chairman Anthony Fuller. "This is evidenced by the returns now being seen in the managed estate, especially in our target areas of
cask ale, food and wine.

"The eight pubs bought during the year are excellent additions to the Fuller’s estate and we are confident they will increase shareholder value. We are currently in negotiations for further sites."

All areas of the company's estate were on target and the beer brands continued to perform well.

"We are very excited about our new brand, Discovery Blonde Beer, and current volumes support our optimism," said Mr Fuller.

"The prospects for our beer brands are good and our key brand, London Pride, will continue to be supported by extensive marketing and promotional activity, including television advertising."