Pub chain Fuller’s hopes for bumper summer from World Cup and staycations
Summary
Fuller’s, a pub and hotel chain, expects strong business this summer due to evening World Cup match times and more people vacationing within the UK. The company has improved its garden areas and reported higher sales and profits, partly thanks to customers who continue spending despite higher living costs.Key Facts
- Fuller’s operates 337 pubs, hotels, and inns, mainly in London and southeast England.
- World Cup matches co-hosted by the US, Canada, and Mexico have evening kick-off times for UK viewers.
- Evening match times avoid clashes with usual summer business and could boost pub visits.
- Fuller’s is seeing more UK residents choosing staycations over foreign holidays due to travel costs.
- The company’s revenue rose 5.7% to £398 million in the year ending March.
- Adjusted profit before tax increased 28% to £34.6 million.
- Fuller’s property portfolio valuation jumped to £991 million, about £400 million above its book value.
- Customers earning over £75,000 continue to spend on going out despite the cost of living rise.
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