Fuller’s sales rise by 17% as tourism boosts trade
Increased tourism and events, along with workers returning to their offices, have contributed to like-for-like sales growth of 17.9% in its City and Central London sites
Fuller’s has made strong progress with total sales for the first 15 weeks rising by 17.1% and like-for-like sales for the same period rising by 15.1%.
Increased tourism and events, along with workers returning to their offices, have contributed to like-for-like sales growth of 17.9% in its City and Central London sites.
Given the strong start to the year and having declared a total dividend of 14.68p per 40p ‘A’ and ‘C’ share for FY2023 (an increase of 30% on the previous year), the board has decided to commence the repurchase of up to one million ‘A’ shares in line with its capital allocation framework.
Chief executive Simon Emeny said: “We are very pleased to have delivered a strong start to the year. The hard work of our teams, coupled with London’s continued recovery, is driving strong sales momentum.
“Our comprehensive strategy, combined with the investments we have made in our people, infrastructure, marketing and estate, is delivering excellent results; and while cost inflation and the ongoing train and tube strikes continue to present challenges, we are pleased with our progress.”
Emeny continued: “We have a clear vision and the best people in the sector to take the Company forward, grow the business, and deliver excellent returns for all our stakeholders. I look forward to providing a further update on 16 November 2023 when we will issue our half year results for the 26 weeks to 30 September 2023.”
