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LON:FSTA
Fuller, Smith & Turner PLC's mission is to be the benchmark in retailing and brewing, delivering quality, service and pride in everything we do. Fuller, Smith & Turner is traded in the ISDX Exchange HERE
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The results for the publican's half-year did not include a £164.5mln of profit the company made from the sale of its beer business to Japan’s Asahi which was announced in January
The broker slashed its 2020 profit forecast by 26% to £31.3mln and chopped their target price for Fuller's to 950p from 1,200p
The pubs and hotels group wanred costs associated with selling part of Britain's brewing heritage to a Japanese brewing group had been higher than expected
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There were mixed messages in Mario Draghi's update on Thursday
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With a slew of corporate earnings and the European Central Bank's policy decision, Thursday will be a busy day of news
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The week ahead includes updates from ITV, Unilever, Rightmove, Diageo, Marston's, IG Group, National Express, GSK and AstraZeneca
As investors have come to expect, sales are once again well up at the pubs group, but soaring costs mean annual profits will likely fall below what was achieved last year
The US investment bank's analysts said: “We are social animals and eating and drinking out of the home has proved resilient to whatever the economic and political backdrop presents"
Earlier on Friday, Fuller’s confirmed it had reached a deal with Japanese giant Asahi to sell off its brewing division, which includes the London Pride and Cornish Orchards brands
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A look at the day's major movers, including PetroNeft, RTC Group, Hydrogen, Lekoil, Oracle Power, Fuller's and Mountfield.
“Brewing has formed an integral part of our history and brand identity, however, the core of Fuller’s and the driver of our future growth is now our premium pubs and hotels business”
But profits were held back by heavy investment into the business as it the pubs group gears up for the busy Christmas trading period when pubs can make some serious dough
Investments and investor services
The UK blue-chip benchmark closed down around seven points at 6,952
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Fullers aside, it looks set to be another quiet Friday in London, with most of the City out bagging some deals in the Black Friday sales
The latest industry data has shown that drink sales are still growing much more quickly than those of food
The London brewer and premium pub company said Douglas and his family are moving to Germany, where his wife, Dr Anke Hoeffler, has been awarded a prestigious Humboldt Professorship
The brewer and premium pub company said like-for-like sales in its Managed Pubs and Hotels rose 4.0%, which was particularly pleasing against a strong comparative of 6.6% for the same period in the prior year
The global financial body added that several countries, including the US and UK, had excessive current account deficits and borrowed too much
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Aside from the soft drinks firms and brewer, the day ahead on Tuesday includes updates from blue-chip real estate firm Hammerson and student acommodation group Unite
