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Fuller, Smith & Turner PLC (FSTA) Fuller, Smith & Turner PLC: 20-Sep-2022 / 07:00 GMT/BSTDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.     20 September 2022   FULLER, SMITH & TURNER P.L.C. Trading Update 25 weeks to 17 September 2022   Fuller, Smith & Turner P.L.C. (“Fuller’s” or “the Company”), the premium pubs and hotels business, provides the following trading statement.   Sales Sales continue to rebuild from the impact of the pandemic with total sales in the first 25 weeks of the financial year up 3% against pre-pandemic levels and up 50% on the same period last year. On a like for like basis, sales for the 25 weeks to 17 September 2022 are 21% up on last year.   Energy costs The global energy crisis is causing significant increases in our expected costs for gas and electricity in the current financial year.   Earlier in the year we had forward purchase contracts in place to cover 50% of our forecast annual gas and electricity requirements. More recently the energy markets have seen costs increase even further to unprecedented levels. With growing uncertainty, and the risk of even higher market costs for energy as we head into the winter months, we have purchased additional forward contracts to cover what we anticipate will be our annual requirement, providing surety for the months ahead.    On 8 September 2022, the Government announced a new six-month scheme that will offer support to businesses at a similar level to that offered to consumers. As the details are yet to be published, we do not know, and are unable to quantify, the extent to which the scheme will mitigate increased costs. Prior to realising any financial benefit from this scheme, we expect our total gas and electricity costs in the current year to be c.£18 million against a prior year figure of £8 million.   We have made good progress implementing a number of initiatives, with more to follow, which reduce our energy usage and help mitigate these cost increases over the medium term.    Capital allocation During the first half of the financial year, the Company has opened The Queen’s Arms, a landside pub at Heathrow Terminal Two, The Queen’s Terminal. In addition, we are close to completion on two further sites.   I...

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