Jubel and Asahi sales power Fuller’s to higher profit

Fuller’s said rising sales of popular premium drinks helped lift profit at its pubs and hotels, despite concerns that weaker consumer confidence would curb spending. The group said its relatively affluent customers have proved more resilient to higher costs, and that summer events and good weather also supported trading.

In the six months to September, sales of Asahi rose 18 per cent and peach lager Jubel rose 71 per cent, while spritz sales increased 118 per cent. Fuller’s reported revenue of £221 million, up 6 per cent, and pre-tax profit of £28.5 million, compared with £21 million a year earlier. It invested £1.5 million in pub gardens and plans to spend £33 million upgrading its estate by year-end.