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Fuller Smith & Turner

Fuller, Smith & Turner P.L.C. operates pubs and hotels in the United Kingdom through its Managed Pubs and Hotels and Tenanted Inns segments. It also operates pubs run by third parties under tenancy or lease agreements, and pubs and hotels under the Bel & The Dragon, Cotswold Inns & Hotels, and Lovely Pubs names. In addition, the company provides managed houses services. Founded in 1845, it is based in London, the United Kingdom.

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Hundreds of UK hospitality leaders urge Burnham to cut VAT to 10pc

More than 800 pub, restaurant and hotel leaders have signed a letter urging Andy Burnham to honour his pledge to cut VAT on hospitality from 20pc to 10pc. Pub groups including Greene King, Fuller's and Wetherspoons signed the letter alongside chefs Tom Kerridge, Angela Hartnett and Heston Blumenthal, with the hotel giant Marriott and family holiday group Center Parcs also seeking to hold the Prime Minister to comments he made in February, when as mayor of Greater Manchester he said he favoured halving the levy to 10pc. The appeal comes days after Mr Burnham handed local authorities the power to impose unlimited tourist taxes, a move UKHospitality said would saddle businesses with an extra £1.6bn in costs, on top of the £6.8bn it estimates Labour's first two Budgets added to the sector's costs. The letter warned that three hospitality venues are closing every day under the highest tax burden in the economy, and that a lower rate of VAT could turn closures into openings and lost jobs into new jobs. Andrew Griffith, the shadow chancellor, called the tourist tax a hammer blow to the industry, while Hilton UK & Ireland senior vice president Stephen Cassidy described it as a catastrophic blow for the UK hotel sector; a Government spokesman said UKHospitality's figures were based on speculation and that its own analysis shows the visitor levy would cost far less than is being reported.
FSTA.LSE · Regulation · Negative Fuller's signed the letter warning that the highest tax burden and new tourist-tax powers are driving three hospitality venues to close every day.
JDW.LSE · Regulation · Negative Wetherspoons signed the letter urging a VAT cut to 10pc to offset the sector's tax burden and the newly devolved unlimited tourist taxes.
Greene King · Regulation · Negative Greene King signed the letter seeking a VAT cut to 10pc as the sector faces the highest tax burden and new tourist-tax costs.
MAR · Regulation · Negative Marriott signed the letter opposing the new unlimited tourist taxes, which Hilton's UK head called a catastrophic blow to the UK hotel sector.
Center Parcs · Regulation · Negative Center Parcs joined the appeal to cut hospitality VAT, citing the added costs from the new tourist-tax powers on family holiday businesses.
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The Telegraph·21dRead more →
United KingdomJapan
FSTA.LSE2

C&C Group to acquire Asahi UK wholesale business

C&C Group has agreed to acquire Asahi Group Holdings' Nectar Imports wholesale and distribution business in the UK for nominal consideration. The assets will be folded into C&C's Matthew Clark Bibendum wholesale operation, and the deal includes the lease of Nectar Imports' depot in Hindon in Wiltshire. Under the agreement, MCB will assume the supply arrangements for the Fuller, Smith & Turner on-trade estate, while Asahi will end its direct distribution services from its Griffin Brewery site in west London, which will transfer to MCB; Asahi retains full ownership and operational control of the Griffin Brewery, including production of London Pride. C&C chief executive Roger White said the deal would bring a significant number of new customers to MCB along with immediate scale and efficiency, and Asahi UK managing director Tim Clay called MCB the right long-term home for Nectar Imports and Asahi UK's existing direct distribution customers. The agreement was announced alongside C&C's trading for the six months to 31 August, in which net revenue declined 3% year on year, with branded revenue up 2% and distribution revenue down 4%, and the company expects first half underlying operating profit of between €43m and €44m.
2502.JP · Capital · Positive Asahi divests its Nectar Imports wholesale and direct distribution business while retaining full ownership and operational control of the Griffin Brewery.
CCR.LSE · Capital · Positive C&C agrees to acquire Asahi's Nectar Imports wholesale business for nominal consideration, adding scale and new customers to its MCB operation.
Matthew Clark Bibendum · Capital · Positive Matthew Clark Bibendum folds in Nectar Imports assets, gains a Wiltshire depot lease, and assumes supply for Fuller's on-trade estate.
FSTA.LSE · Supply · Neutral Fuller, Smith & Turner's on-trade estate supply arrangements will be assumed by MCB under the deal, but no financial impact on Fuller is stated.
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Just Drinks·23dRead more →