Home Business News Fuller’s shareholders to receive £69m after brewery sale

Fuller’s shareholders to receive £69m after brewery sale

by LLB Reporter
4th Sep 19 3:39 pm

Fuller’s shareholders are set to receive £69m after the brewery completed a £250m sale of the brewery arm to Asahi, a Japanese brewing giant.

The brewery which is based in Chiswick South West London saw shares soar after the sale and said they have had a “busy start to the year” as performance of their pubs hotels has done well.

The company hailed it a “good start” to the financial year against 2018 which saw a tough year.

Simon Emeny, chief executive said, “I am pleased to see our managed pubs and hotels showing like-for-like growth and, while our like-for-like profits in tenanted inns are down a little year on year, it is important to remember that the first half of last year included the halcyon period where sun and sport combined to create perfect pub-going conditions.

“I look forward to updating the City on our plans and progress in more detail at our half-year results presentation in November.”

On Wednesday afternoon shares in Fuller, Smith and Turner rose 9% to 1,210p.

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