The boom in craft beers was cited as one of the reasons behind the resilient performance of brewer-cum-pub landlord, Fuller, Smith and Turner PLC (LON:FTSA).
While operating profits from its Beer Company operation were up 8%, volumes actually dropped 4% in the six months to September 24.
For the company as a whole, adjusted profit before tax rose 6% to £22.8mln on an 11% rise in revenues to £197.6mln.
CEO Simon Emeny tells Proactive: ”We’d described it as a good first half to the year under what are clearly challenging economic and political conditions”.
”I think the first half is split into two quarters for us which were distinctly different. In the run up to the referendum it coincided with a very wet part of the summer and uncertainty around the vote. I think once everyone had got over the shock of what was an unexpected outcome the second quarter we traded very well”.
Story by ProactiveInvestors