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Fuller's opts for cautious reopening schedule on 'Super Saturday', delays results release again

The publican said it will open only 27 of its pubs tomorrow, although it expects 80% of its managed pubs and hotels to have reopened by the end of July

Fuller Smith & Turner - Fuller's delays results again

Publican Fuller, Smith & Turner PLC (LON:FSTA) said it is undertaking a "phased, gradual reopening" of its pub estate when it is finally able to reopne its doors on July 4, now dubbed 'Super Saturday'.

On Friday, the publican said only 27 of its pubs will reopen at the weekend, with the rest of the estate to reopen in groups of pubs "over the following weeks".

The company added that by the end of July over 80% of its managed pubs and hotels will have reopened, while its tenanted pubs are also expected to be open again during the month.

READ: Pubs tipped for £210mln drinking spree when they reopen at the weekend

In a separate announcement, the firm said it has delayed the release of its final results once again, saying its auditors require “additional time to complete the formalities of the audit process”.

The company said its auditor, Grant Thornton, had cited “complexities surrounding [coronavirus] and related abnormal working arrangements as the reason behind the time taken to complete the audit”.

Fuller’s said it will announce a revised date for the results “shortly”.

The delay is the second in just over a week after the company previously pushed back the figures from June 25, again citing the need for additional time to complete their audit process.

Fuller's shares rose 2.6% to 778p in lunchtime trading.

--Adds reopening details and updates share price--

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Price: 600 GBX

AIM:FSTA
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Market Cap: £331.75 m
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