Fullers swings to £22m pre-tax loss

Pub chain Fullers has reported a £22.2m pre tax loss from the six months ending in September, with chief executive Simon Emeny adding it will be a “tough winter” for the company. 

In the businesses financial results for the 26 weeks to 26 September 2020 it revealed it had made £45.6m in revenue in the six months, compared to £167.1m this time last year. 

During the final two months, with the majority of the estate open, the group reported an operating profit of £2m even with Covid-19 restrictions being in place. 

Despite the sales slump Emeny has stated he is “optimistic about the future” and revealed plans to reopen its estate in a “measured way”, navigating the tier system and the restrictions that come with it. 

It follows news that competitor chain Mitchells and Butlers that it has made 1,300 redundancies since the end of September. 

In addition the company also reported pre-tax losses of £123m, as Covid-19 disrupted the brand’s ability to trade.