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Last Updated: Friday, 9 June 2006, 07:00 GMT 08:00 UK
Fuller's profits hit by beer deal
Fuller's beers
Fuller's has described the UK's real ale market as 'challenging'
London Pride brewer Fuller, Smith & Turner has reported a 13% drop in pre-tax profits to �15.3m ($28m).

The UK company said the cost of integrating the historic Gales brewery, which it bought in 2005 for �91.8m, had hit its full-year profits.

However, Fuller's said the underlying performance of its business remained strong throughout the year.

The company's Fuller's Inns chain of pubs and bars reported a 13% jump in turnover to �111.9m.

Despite what it described a "challenging" market for cask ales, Fuller's said its beer brewing business continued to perform well, with adjusted profits at the division rising by 6% to �8.7m.

The company's London Pride beer continued to be the UK's top selling premium cask ale, the company said.

"Fuller's underlying businesses had a strong year with profits up in all areas," said Fuller's chairman Anthony Fuller.

However, he added: "Costs of integrating the Gales business have resulted in an exceptional charge for the year of �2.9m."


SEE ALSO:
Anger at historic brewery closure
27 Feb 06 |  Hampshire
Trouble brewing for real ale
05 Aug 04 |  Magazine
Fuller profit defies summer rain
26 Nov 04 |  Business


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