Fuller, Smith & Turner PLC (FSTA)

(Alliance News) - Fuller, Smith & Turner PLC on Wednesday said it was confident in meeting market expectations for the full-year as it acknowledged incoming headwinds in 2025.

The London-based pub chain said like-for-like sales in the 41 weeks to January 11 increased 5.9% annually, and it reported "excellent" trading over the crucial Christmas and New Year's period, with LFL sales up 10% on-year during the five-week period.

Fuller, Smith & Turner said it is confident in meeting market expectations for the full-year ended March 29. However, it acknowledged the incoming headwinds in the next financial year, namely the increases in employers national insurance contributions, national living wage as well as business rates resulting from the autumn statement.

It added that it is "taking appropriate actions to manage the impact of these market challenges".

Fuller, Smith & Turner Chief Executive Simon Emeny said: "We have delivered great results throughout 2024, and this has been enhanced with a really strong Christmas.

"As we move into the last few months of this financial year, we continue to focus on delivering long-term returns as well as preparing for the year ahead. Our share buyback programme is ongoing, with 5.7 million of the planned 6.5 million ‘A’ shares now repurchased," Emeny added.

"We also continue to invest in our estate – with a number of major projects planned for the final quarter of the current financial year, including a GBP4 million investment at The Chamberlain Hotel in the City of London, which is already underway."

The firm next expects to update the market on June 11 when it will publish its full-year results.

Its shares were up 1.05% at 576.00 pence on Wednesday morning in London.

By Christopher Ward, Alliance News reporter

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