Fuller, Smith & Turner PLC (FSTA.L), a premium pubs and hotels business, Tuesday said its trading momentum continues, and like-for-like sales growth was 5.3 percent for the first 16 weeks of the financial year.
Margins are recovering with inflationary pressures easing.
In its trading update ahead of the company's Annual General Meeting today, Chief Executive Simon Emeny said, "I am delighted to see our sales growth momentum continue, particularly against the backdrop of easing inflation, which will help us to grow margins and profit, as well as revenue. You can feel the positivity across the business, with our team members working energetically to drive our continued success."
Since the year end, the company said it has completed the sale of 37 non-core pubs to Admiral Taverns for a cash realisation of 18.3 million pounds, and completed the sale of The Mad Hatter in Southwark for a total consideration of 20 million pounds.
The company plans to provide a further update on November 13 when it will issue half-year results for the 26 weeks to September 28.
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