Fuller's profits up five per cent

June 10, 2006: Fuller's saw pre-tax profits rise five per cent to £18.7 million in the year to April 1. Revenues were up 12 per cent to £145.1 million.

Announcing the results, company chairman Anthony Fuller explained how the acquisition of Gale's had gone well, which contributed to the doubling of the firm's pub retail estate.

He said: "The significantly larger estate will bring with it the benefits of economies of scale and, because of our retail structure, it also gives us more opportunity to maximise returns where appropriate by transferring pubs between the managed and tenanted estates.

"In addition, it presents excellent opportunities to expand our already successful free trade and wine divisions.

"We take a long-term view and so continue to invest in our assets across all business areas, including existing outlets and the brewery, to maintain standards and quality.

"In addition, we will continue our strategy of acquiring individual units to further grow our estate. I expect to see progress in the new combined business this year. ”