Fuller, Smith & Turner has made its 14th real estate purchase in the financial year to date.
In the nine weeks to 21 January, the group bought five pubs from Marston’s, purchased the freehold of one of its former leasehold sites, and has just exchanged contracts for two more pubs.
During the period, revenue rose 5.1%. As at 31 December 2011, net debt was £109.4m, up from £92.5m at the half year following the recent acquisitions.
The company said in its interim management statement today: “We are confident that our acquisitions pipeline and refurbishment programme will continue to give us good momentum going into a summer of sport.”
joanna.bourke@estatesgazette.com
