Fullers premium push paying off

In the face of rising business rates and higher staff costs, Fuller, Smith & Turner's (FSTA) focus on growing premium pub sales is bearing fruit. Like for-like sales for its managed pubs and hotels division were up 2.9 per cent last year, outperforming the wider market, led by accommodation. However, that wasn't quite enough to prevent a 10 basis point decline in the division's adjusted operating profit margin, to 12.3 per cent.