Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
LONDON -- Fuller, Smith & Turner (LSE: FSTA.L ) , the family-run pub group and brewer of London Pride and other notable ales, reported that total sales for managed pubs and hotels grew 8% in its interim statement this morning. However, persistent rain affected sales in a large number of pubs with gardens, causing like-for-like sales to decline by 1.1%.
The group, which has increased its dividend every year since 1974, stated that the Queen's Diamond Jubilee and Euro 2012 benefited other divisions of the business more noticeably, with Tenanted Inns like-for-like profits up 1% and The Fuller's Beer Company total beer volumes growing by 1%, helped by the launch of Hope and Glory in May and Wild River in June, which have both proved very popular.
Cash generation is very strong and net debt at the end of the first quarter fell to 134.5 million pounds, down from 138.2 million pounds on March 31, 2012.
The group expects to see some uplift from the Olympic Games. Chairman Michael Turner said:
With the opening ceremony a mere nine days away, and as the Olympic Torch weaves its way closer to the capital, past a growing number of our pubs and hotels, we can see the excitement building. The Brewery is running at full tilt to ensure that everyone can celebrate with a pint of London Pride.
This morning's update from Fuller underlines how exciting shares can become wonderful investments for dividend-seeking investors.
What's more, you can discover the shares he now holds -- and which losers he's avoided -- within "8 Shares Held By Britain's Super Investor."
You can download this free Fool report about market legend Neil Woodford today. But hurry, the report is available for a limited time only.
Are you looking to profit from this uncertain economy? "10 Steps To Making A Million In The Market" is the very latest Motley Fool guide to help Britain invest. Better. We urge you to read the report today -- it's free.
Further Motley Fool investment opportunities