Fuller's has profit boost to back up James May ads

Fuller, Smith & Turner reckons its marketing campaign starring Top Gear's James May is helping sales of its flagship brew London Pride.

Chairman Michael Turner said May was a perfect fit for the campaign, which it launched last month. "He lives near one of our pubs. He drinks London Pride. I think he's got a broad appeal and will help us recruit new customers."

The brewer and pub owner has been perhaps the best performer in the trade in the last two years, a period that has seen other operators struggling to survive.

Today it announced results for the half-year to September which show that sales were up 4% to £121 million and profits up 11% to £17 million. The increase is on top of a 17% rise last year.

"There is genuine momentum in the business," said Turner.

Fuller has 364 pubs, with most in London and the South-East. Turner is a fan of the Government's cost cuts, but hopes he can persuade it to take a sensible attitude towards the taxation of beer.

"I'd like them to treat beer as it should be treated," he said. "It is a dilute form of alcohol and therefore the most responsible sort of alcohol you can have."

The interim divi is up 6% to 4.75p. Debts are down by £14 million to £93.6 million.

Paul Hickman at Kbcpeelhunt said: "Fullers has shown the quality of its management and the strength of its London and south-eastern market. The shares are not cheap, but this is a secure and high quality operation with a good mix of caution and aspiration, backed by first-rate London property."

The shares slipped 5.51p to 623.99p.