Fuller Smith & Turner Share Discussion Threads

[glenowen] 19/7/2015 07:35

No comment on Fullers for more than a year? What a shame, it is an excellent company and has been a very solid long term investment.

Just been looking at the charts at some of the pub operators. All show similar rises from 2009/10 to 2013 but both Wetherspoon and Greene King are now no higher than the level they were at two years ago. Youngs are up 20/30% on a two-year view, but Fullers are up about 40% or more. I expect that both Youngs and Fullers are benefitting from the South East effect, whereas the other operators are being impacted by canny Northerners, more reluctant to shell out on food and drink. Personally, I was shocked to pay £4.50 for a pint of guest ale at a Fullers on the Tottenham Court Road last week! The Parcel Yard at Kings Cross is a great pub though and perennially packed.

So, at the moment Fullers are looking the best bet for me with, seemingly, a very good management picking up high quality pubs and building the company solidly, if unspectacularly. Any views? Jeffian?

[skinny] 06/6/2014 07:53

Financial Highlights

· Adjusted earnings per share1 up 11% to 46.94p (2013: 42.18p)
· Adjusted profit before tax2 up 10% to £34.1 million (2013: £31.1 million)
· Revenue up 6% to £288.0 million (2013: £271.5 million)
· EBITDA3 up 6% to £54.5 million (2013: £51.2 million)
· Final dividend up 11% to 9.30p (2013: 8.35p)
· Net debt to EBITDA4 2.5 times (2013: 2.6 times)


Operational Indicators

· Industry leading like for like sales growth of 8.3% in Managed Pubs and Hotels
· Particularly strong growth in food and accommodation, with like-for-like sales in both areas rising by 10.4%
· Tenanted Inns like for like profits5 increased by 2%
· Total Beer and Cider volumes rose by 1%


Strategy Update

· Portfolio development continues with addition of Frontier, our new craft lager, Cornish Orchards cider and Sierra Nevada
· Increased capacity at Cornish Orchards by 60%
· Acquired three new sites and opened Cams Mill, Fareham
· Tenanted Division wins Tenanted Pub Company of the Year at the Publican Awards


Current Trading

· Managed Pubs & Hotels like for like sales +8.0%
· Tenanted like for like profits +4%
· Fuller's Beer Company volumes +10%
· Purchase of three new freehold sites including two Thames riverside locations
· Opened London's Pride at Heathrow Terminal 2: The Queen's Terminal

[zeppo] 06/6/2014 07:48

11% rise in Final Divi.


z

[zeppo] 17/5/2014 12:16

Is this share going nowhere?

z

[zeppo] 16/5/2014 14:07

Why the drop.

This share has marked time for months.

z

[skinny] 22/11/2013 09:12

Numis Add 995.75 990.50 - 1,050.00 Reiterates

[skinny] 22/11/2013 08:42

Time for my annual post :-)



Financial Performance

· Adjusted earnings per share1 up 9% to 24.79p (2012: 22.78p)
· Adjusted profit before tax2 up 8% to £18.1 million (2012: £16.8 million)
· Revenue up 6% to £146.3 million (2012: £137.9 million)
· EBITDA3 up 4% to £28.1 million (2012: £26.9 million)
· Interim dividend up 8% to 5.80p (2012: 5.35p)
· Net debt to EBITDA4 2.5 times (2012: 2.7 times)

Corporate Progress

· Industry leading like for like sales growth of 7.9% in Managed Pubs and Hotels led by strong food growth
· Managed Pubs and Hotels profits5 up 16% with good operating margins
· Tenanted Inns profits5 level with like for like profits up 1%
· Total Beer and Cider volumes down 1%
· Good progress on Fuller's Beer Company long term strategic initiatives:
- Cornish Orchards premium cider business acquired in June; successfully integrated and trading strongly
- Successful launch of Frontier, our new wave craft lager
- Creative "Made of London" advertising campaign well received.

[wayneduncan] 22/11/2013 08:18

Wow. Look at that spread! Putting me off a top up currently. Great results though FSTA!

[zeppo] 22/11/2013 08:13

In it for long term growth and income so 'trading' irrelevant.

z

[stdyeddy] 22/11/2013 08:08

Time for the annual post on this thread. Good results but the spread is so massive it looks like the market-makers want half of the expected increase today. How is anyone supposed to trade this stock if it costs 4%?

[skinny] 23/11/2012 07:10

Financial Performance

· Revenue up 8% to £137.9 million (2011: £128.2 million)
· Adjusted profit before tax up 4% to £17.1 million (2011: £16.5 million)
· Adjusted earnings per share up 8% to 23.14p (2011: 21.48p)
· EBITDA up 8% to £26.9 million (2011: £25.0 million)
· Interim dividend up 6% to 5.35p (2011: 5.05p)
· Net debt to EBITDA 2.7 times (2011: 1.9 times)

Corporate Progress

· Two pubs acquired in the period and a further two since the half year end
· Managed Pubs and Hotels like for like sales up 1.6%; profits up 5%
· Managed Pubs and Hotels delivered a good performance despite an unprecedented number of non-trading weeks due to redevelopment
· Tenanted Inns profits5 up 19%; like for like profits up 1%
· Total Beer volumes up 1%; profits5 down 7% due to increased depreciation from prior year's investment in conditioning tanks
· Last year's acquisitions are making good progress and demonstrating encouraging momentum

[welloiledbeefhooked] 02/11/2011 00:05

Bought some Fullers last week. Shares that is, not the beer.

[serratia] 16/10/2011 13:20

Anyone know how many shares there are in issue ? ADVFN shows 33m the annual accounts say 57m.

[fundementals] 23/4/2011 09:20

Broke out from a two month trading range on Thursday. No news, must have been the good weather. Lots of drinking this weekend in Fuller's pubs. Roll on the wedding, the summer and next years Olympics.

[mitzis] 28/6/2010 10:08

Summer is here at long last could be a good year for brewers.

[jeavom] 20/6/2010 21:23

The latest Investors Chronicle (18 June) tips this share as a buy at 576p and had an interesting narrative - so I checked out the numbers for this company expecting them to back up the story. Unfortunately, the figures seem pretty disappointing. I struggled to get a valuation anywhere near 500p. So for now, the company seems to be overvalued.

[dorsetlad] 11/6/2010 18:49

mitzis - a bit of a loner on this thread?
A couple of very sizeable trades at 15:30 today bodes well.
These are still a good buy in my view, even with todays rise.

[mitzis] 11/6/2010 08:04

Radio 5 live 6 this am Chairman said they could be a target,

[mitzis] 11/3/2010 13:14

Anyone heard a whistle.

[mitzis] 27/8/2009 16:29

Go down the pub its hot today.

[[e-mail]] 13/5/2009 12:58

managers will be leaving then fullers put in new boys at lower wages
more money for directors & shareholders

[mitzis] 13/5/2009 12:07

I'm not selling.

[[e-mail]] 13/5/2009 12:07

my 400 buy june well out

[[e-mail]] 13/5/2009 12:05

no pay rise for managers big rise for directors.

[[e-mail]] 11/3/2008 16:16

could be around 400p by june