Fuller’s predicts World Cup boost amid strong Christmas bookings

Pub group Fuller’s has hailed “strong” Christmas bookings and said it expects an “uplift” from customers watching the World Cup.

However the company, which owns 386 pubs and inns, also highlighted increased pressure from rising energy bills, food and wage costs and rising interest rates.

The group also said it has faced a roughly £1.4 million hit to sales over the past half year as a result of Tube and train strikes.

Bosses said Fuller’s is in “good shape” to cope with these challenges as it reported positive momentum in recent weeks.

Chief executive Simon Emeny said: “Following on from a good first-half performance, we have maintained our forward momentum in the seven weeks post the period end, with like-for-like sales up by 13% against the same period last year.

“While we look forward to our first Christmas free of restrictions for three years, and the added bonus of a Fifa World Cup, we are trading in an increasingly challenging environment.”

He added that Fuller’s has been boosted by a recovery in central London and the City driven by returning office workers and international tourists.

Sales in central London lifted by 20% over the past seven weeks, compared with the same period last year, despite the “impact of Tube and train strikes”.

Fuller’s revealed that revenues grew by 45% to £168.9 million over the six months to September 24.

Adjusted pre-tax profits more than doubled to £9.8 million for the half year, from £4.6 million a year earlier.

Shares in the company edged 0.2% lower to 491p in early trading.