Fuller Smith & Turner plc have announced a final dividend of 11.12p (FY2023: 10.0p) per 40p 'A' and 'C' ordinary share and 1.112p (FY2023: 1.0p) per 4p 'B' ordinary share, representing a year on year increase of 11%. This will be paid on 25 July 2024 to shareholders on the share register as at 5 July 2024. The total dividend of 17.75p (FY2023: 14.68p) per 40p 'A' and 'C' ordinary share and 1.775p (FY2023: 1.468p) per 4p 'B' ordinary share represents a 21% year-on-year increase.
Other financial highlights include:
- Revenue up 7%, against a 53-week year, to £359.1 million (FY2023: £336.6 million), driven by strong performances across the estate
- Like for like sales up 11.0%, significantly outperforming the industry's CGA RSM Hospitality Business Tracker on average by four percentage points
- Strong profit conversion, with adjusted profit before tax increased by 61% to £20.5 million (FY2023: £12.7 million)
- Operating cash flow used to fund estate enhancements and finance shareholder returns in the form of dividends and share buybacks - net debt stable at £133.1 million (FY2023: £132.8 million)
- Bought back three million 'A' shares since September 2022, with a further one million 'A' shares in progress since March 2024. Today they announce their intention to buy up to a further two and a half million 'A' shares - bringing the total number of shares repurchased to 6.5 million shares.
