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Fuller’s has reported a 28% increase in adjusted pre-tax profit to £34.6m for the financial year, driven by sales growth across its managed pubs and hotels.
In the year ended 28 March 2026, group revenues rose by 5.7% to £397.8m, up from £376.3m in the previous year, with like-for-like sales in the managed division increasing by 4.9%.
Drink sales grew by 5.8%, accommodation rose by 4.9%, and food sales increased by 3.5% over the period.
The company invested £32.2m in its existing estate during the year, completing 14 schemes including refurbishments at The Wellington in Waterloo and The Bull Hotel in Bridport. Two central London freehold pubs, The Avalon in Clapham and The Duke of Sussex in Waterloo, were added to its tenanted estate.
A directors’ valuation priced the total property portfolio at £991m, which is £397m above the current book value.
Trading momentum has continued into the new financial year, with like-for-like sales rising 4.4% in the 10 weeks to 6 June 2026. The company has also exchanged contracts to buy the freehold of The Swan at Arundel.
Investment plans for the coming year exceed £30m, which includes converting The Barrowboy and Banker site near London Bridge into a 26-bedroom hotel.
Executive chairman, Simon Emeny, said: “I am delighted, as I complete my first year as executive chairman, to report that it has been another successful year for Fuller’s. The new financial year has begun well. Like for like sales for the first 10 weeks have risen by 4.4%, building on a strong comparative period last year and our underlying profitability continues to improve, maintaining the momentum we have built in recent years.
“We have exciting opportunities for the coming year with plans to invest over £30m across the estate. In addition, we will begin the transformation of The Barrowboy and Banker, an existing freehold site by London Bridge, where we will create a 26-bedroom hotel to mirror the successful investment made previously at The Counting House, Cornhill.”
He added: “The results we have delivered this year are driven by our strong operational performance, a proven successful strategy, an outstanding team of people, and a robust capital allocation framework – which combined, reflect the success of our long-term business model.
“While we are monitoring the ongoing geopolitical and economic situations, we remain optimistic and confident that we will continue to deliver further progress for our people, our customers and our shareholders.”
