Fuller Smith & Turner PLC (AIM:FSTA), the pub group, will be hoping next Thursday’s full-year results continue the bull run that has taken its value to two-and-a-half-year highs.
Shares are up more than 37% in the last twelve months, having benefitted from sales of assets, easing cost inflation and higher pint prices.
Last month, the group revealed it agreed to sell 37 pubs from its Tenanted Inns division to Admiral Taverns for £18.3 million.
Fuller’s sale represented a £1.6 million premium to the portfolio’s £16.7 million gross asset value.
While the group remains quiet on updating investors about trading in 2024, industry data indicates a slight lift in the industry.
In May, beer sales surged as the warm weather meant punters flooded into pub gardens across the country, industry researcher CGA revealed.
Fuller’s last update on its trading came after the festive period and revealed sales had jumped by over 21%.
“While we continue to see the impact of a challenging economic environment, we are positive about the future and confident of meeting market expectations for the full year,” boss Simon Emeny said at the time.
Operations may have also been helped by the surge in beer prices, particularly in the capital.
Earlier this week, it was revealed some pubs in London had put their beer prices up by more than 20% since the start of last year.
On average, the price of a pint in the city rose to £5.43, representing a 69p, or 15%, jump.