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Pub/Bar/Nightclub

Pub Group Fuller's Expects Energy Costs To More Than Double

By Dave Simpson

Fuller, Smith & Turner on Tuesday 19 September forecast full-year expenses for gas and electricity would more than double as the global energy crisis shows no sign of abating.

Details

British pub operators have been struggling with surging prices of everything from fuel to food ingredients, while record-high UK temperatures keep consumers at home.

"Despite having proactively purchased forward contracts to limit the impact (of energy costs) on Fuller's, we will see significant increases this year," chief executive Simon Emeny said in a statement.

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He also urged the government to provide "much needed" clarity on support measures it had proposed earlier this month to help businesses struggling to cope with soaring energy costs.

Fuller's expects annual gas and electricity costs of about £18 million, compared with £8 million last year.

Emeny said the pub operator is looking forward to the forthcoming World Cup and its first Christmas free of pandemic restrictions in three years.

The group's shares were down 1.6% at 500 pence in early trade.

Total Sales

Its total sales for the 25 weeks to 17 September were up 3% from pre-COVID-19 levels, as its operations continue to recover from the pandemic.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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