By Daniel Hunter
Brewer and pub operator Fuller, Smith & Turner have benefitted from a strengthening economy in London and the south of England as they report a 10% rise in revenue.
Revenue is up to £162 million for the six months ending September 27th, with underlying pre-tax profit up 8% to £19.6 million for the makers of London Pride.
Sales at pubs and hotels, open a year or more, rose 6.5% and total beer and cider volumes increased 6% in what has been a strong year for the group.
“There is no doubt in our trading area that our customers have benefited from reduced unemployment, rising house prices and low interest rates," Simon Emeny, Fuller’s chief executive, said.
"But it’s still very competitive running pubs in the south-east so we can’t rely on the economy being strong.”
Fuller’s, based in Chiswick, west London, has most of its pubs in London and the capital's economy, driven by financial services and construction, is expected to outstrip all other parts of the UK this year.
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