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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Fuller, Smith & Turner plc    FSTA   GB00B1YPC344

FULLER, SMITH & TURNER PLC

(FSTA)
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Delayed Quote. Delayed London Stock Exchange - 05/23 11:35:16 am
1080 GBp   -0.92%
04/29FULLER SMITH & TURNER PLC : - Disposal
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03/22FULLER SMITH & TURNER PLC : - Treasury Stock
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03/18FULLER SMITH & TURNER PLC : - Transaction in Own Shares
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Fuller Smith & Turner : Full Year Results

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06/09/2017 | 02:28am EDT

09 June 2017

STRICTLY EMBARGOED

UNTIL 7AM FRIDAY 9 JUNE 2017

FULLER, SMITH & TURNER P.L.C.

('Fuller's', 'the Group' or 'the Company')

Financial results for the 53 weeks ended 1 April 2017

Another good year for the Company

Financial Highlights

  • Adjusted profit before tax up 5% to £42.9 million (2016: £40.9 million)
  • Adjusted earnings per share up 5% to 61.39p (2016: 58.35p)
  • Revenue up 12% to £392.0 million (2016: £350.5 million)
  • EBITDA up 8% to £70.5 million (2016: £65.0 million)
  • Total annual dividend up 5% to 18.80p (2016: 17.90p)
  • Statutory profit before tax of £39.9 million (2016: £39.2 million)
  • Net debt to EBITDA 2.9 times (2016: 3.0 times).

Operational Indicators

  • Strong performance from Managed Pubs and Hotels with like for like sales[5] growth of 3.7%, driven by good growth in food and accommodation
  • Tenanted Inns like for like profits marginally down 1%, EBITDA per pub up 2%
  • Total beer and cider volumes down 2%, but operating profits in The Fuller's Beer Company rose 5%.

Adjusted profit before tax is the profit before tax excluding separately disclosed items. Statutory profit before tax was £39.9 million (2016: £39.2 million).

Calculated using adjusted profit after tax and the same weighted average number of shares as for the basic earnings per share and using a 40p ordinary share. Basic earnings per share were 59.21p (2016: 59.25p).

Earnings before separately disclosed items, interest, tax, depreciation and amortisation.

[4] Net debt to EBITDA is calculated on a pro forma basis adjusting as appropriate for acquisitions and disposals in the last 12 months.

[5] Managed Pubs and Hotels like for like sales excludes The Stable and are for 52 weeks ended 25 March 2017.

Strategy Update
  • Invested £22 million in our existing Inns estate, broadening the appeal of our pubs
  • Acquired five new pubs
  • Added an additional 71 new bedrooms
  • Opened four new restaurants for The Stable and acquired a further 25% share, taking ownership to 76%
  • Grew sales of our craft beer range and launched London Pride Unfiltered
  • Added further warehousing and capacity at Cornish Orchards and Nectar.
  • Filled 66% of vacancies with internal promotions through successful ongoing strategy of developing our people.

Fuller Smith & Turner plc published this content on 09 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 June 2017 06:28:23 UTC.

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Financials (GBP)
Sales 2019 426 M
EBIT 2019 50,3 M
Net income 2019 34,0 M
Debt 2019 213 M
Yield 2019 1,88%
P/E ratio 2019 17,08
P/E ratio 2020 16,81
EV / Sales 2019 1,31x
EV / Sales 2020 1,22x
Capitalization 346 M
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Technical analysis trends FULLER, SMITH & TURNER PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 12,2  GBP
Spread / Average Target 13%
Managers
NameTitle
Simon Emeny Chief Executive Director & Executive Director
Anthony G. Fuller President
Michael John Turner Non-Executive Chairman
Deborah Stevenson Finance Director
John Michael Dunsmore Senior Independent Non-Executive Director
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