June 10, 2016, 2:22 a.m. EDT

Fuller, Smith & Turner profit up 8.6% for year

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By MarketWatch

LONDON--Fuller,Smith&Turner PLC (FSTA.LN) said Friday it is well positioned for the future as it recorded fiscal 2016 earnings growth.

The pubs firm and brewer said pretax profit rose 8.6% to 39.2 million pounds ($57 million) during the 52 weeks ended March 26, compared with GBP36.1 million a year earlier as revenue rose to GBP350.5 million from GBP321.5 million earlier.

"It has been another outstanding year for the Company and I am delighted to be reporting an excellent set of results, particularly in the largest part of our business - our Managed Pubs and Hotels. We are seeing the rewards of our continued investment program and the emphasis we have placed on recruiting, developing, rewarding and promoting the best people," Chief Executive Simon Emeny said.

"Our business is in excellent shape and it has been a solid start to the year. Like for like sales in our Managed Pubs and Hotels for the first 10 weeks of the new financial year are up by 2.7% against strong comparatives from last year. Over the same period, like for like profits in our Tenanted Inns are down by 2% and beer and cider volumes have decreased by 5%," Mr. Emeny said.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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