After reporting a sharp fall in interim profits, Fuller Smith & Turner says it is abandoning attempts at wooing younger drinkers and will concentrate instead on its managed pubs. Profits before exceptionals for the period May to October fell to £6.4m, 11 per cent down on earnings for the previous six months. The major contributor to this [reduction] is the poor performance of our Broadwalks and late night venues that clearly have not met our targets, commented chair, Anthony Fuller. Late night venues and the seven Broadwalk bars and clubs are to be sold off or converted into conventional pubs. However, in terms of hotels and brewing, the company is upbeat. We are delighted with the high quality of our new properties in Bristol and the City of London and remain confident of the positive long-term outlook for our Hotels division, said Fuller. Profits at Fuller's brewing operation, maker of London Pride bitter, rose by 21 per cent compared to the previous six months.
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