Fuller's scores higher profits despite significant inflationary pressures

Fuller's scores higher profits despite significant inflationary pressures Fuller's reported pre-tax profits jumped by 40% to £14.4m in the year to March The firm's operating margins increased despite higher food and labour costs By Harry Wise Updated: 06:07 EDT, 13 June 2024 e-mail View comments Fuller, Smith & Turner has hailed an 'excellent' year as it reported increased earnings against a backdrop of elevated cost pressures. The hospitality group, which operates pubs and hotels across London and the South, reported pre-tax profits jumped 40 per cent to £14.

4million in the year ending 30 March. Although the West London-based business endured higher food and labour costs, the latter due to the National Living Wage hike, its operating margins still improved by 2.2 percentage points to 9.

6 per cent. Cheers to that: Hospitality group Fuller's reported pre-tax profits jumped by 40 per cent to £14.4million in the year ending 30 March Its results further showed revenue rose by 7.

1 per cent to £359.9million, thanks partly to a solid like-for-like performance at the firm's city sites. This follows a challenging time for Fuller's central London venues, which were severely hit by Covid-19 restrictions and demand shifting towards suburban and rural pubs amid the growth of working from home.

They were also significantly affected by squeezed consumer incomes, declining tourist footfall, and railway workers staging multiple strikes over the past two years. RELATED ARTICLES Previous 1 .