UPDATE 1-Fuller's pub, hotels sales up on glorious summer

Fri Jul 23, 2010 4:00am EDT

* Names Simon Emeny as group managing director

* Net debt at 102 mln stg as of June 26 (Adds details)

July 23 (Reuters) - British pubs operator and brewer Fuller Smith & Turner (FSTA.L) posted a 4.1 percent rise in like-for-like sales at its pubs and hotels division for the 16 weeks to July 17, helped mainly by good summer weather.

"After some glorious summer weather there are economic clouds on the horizon, but I am confident that our strategy ensures the company is well placed to deliver for its shareholders even in these continuing uncertain times," Chairman Michael Turner said in a statement.

The 165-year old company, which has 366 pubs in the south of England, also named Simon Emeny as the group managing director.

Net debt stood at 102.0 million pounds ($155.7 million) on June 26, down from 107.7 million pounds on March 27, Fuller said.

Britain's pubs have battled with a torrid trading environment over the last two years as a smoking ban, recession, above-inflation increases in beer duties and cheap booze offers in supermarkets kept drinkers at home. [ID:nLDE66J0BQ]

However, recent updates from JD Wetherspoon (JDW.L), Punch Taverns (PUB.L) and Greene King (GNK.L) have pointed to an upturn in trading in recent weeks with both the World Cup and good summer weather boosting trade. [ID:nLDE66C0EN] [ID:nLDE660062]

"We believe that the company benefited from the sunny weather, the world cup and its London/Southeast premium positioning," said Seymour Pierce, which has a "buy" rating on the stock. ($1=.6553 Pound) (Reporting by Anirban Sen in Bangalore; Editing by Tresa Sherin) ((anirban.sen@thomsonreuters.com; within UK +44 207 542 7717; outside UK +91 80 4135 5800; Reuters Messaging: anirban.sen.reuters.com@reuters.net))

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