Fuller's has reported a significant increase in sales and profits, reflecting a 32% rise in underlying pre-tax profits to £27 million for the year ending March 29. Despite a challenging and volatile market influenced by geopolitical uncertainties, the company witnessed a 5.2% increase in like-for-like sales and continues to show growth in the early weeks of the new financial year. Chairman Michael Turner emphasized the adverse impact of recent budget decisions on the hospitality sector, warning that changes in national insurance contributions could jeopardize many smaller operators.
Fuller's has cheered an increase in sales and profits despite a "challenging and volatile" market and posted a 32% increase in underlying pre-tax profits.
The geopolitical situation has caused uncertainty in global markets, and the decisions made by the Chancellor in her October budget hit the sector hard.
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