Fuller's cautious despite profits rise

11 June, 2010

Brewer Fuller’s has issued a cautious statement about the year ahead, despite turning in a record set of results for the year to March 27.

The company saw a 4% rise in its take-home beer volumes and overall sales in the Fuller’s Beer Co were 7% ahead before exceptional items at £8.9 million, with revenue up by a similar amount at £97.9 million.

Fuller’s group pre-tax profits before exceptional items was up 17% at £26.6 million, on an 8% rise in revenue at £227.7 million.

Chairman Michael Turner said: “With the UK national debt so large and measures to tackle this through tax rises and public spending cuts now being implemented by the new government we remain very cautious about the outlook for the UK economy.

“We may technically have emerged from recession and the economy may no longer be contracting, but with the prospect of personal taxation in our target market rising further and disposable incomes reducing there may be less leisure spend available in real terms.”

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