Fuller's re-opens Greenwich pub as managed estate sales grow

The Pilot, which is close to the O2 Arena, comes with a new 50-cover dining room with panoramic views and five new bedrooms as part of its makeover. With 10 bedrooms in total, Fuller’s plans to target visitors to the O2 and London City Airport.

In addition, a new 12-seater private dining room has been created. Complete with audio and TV facilities and its own balcony terrace, the private room is designed for conferences and parties.

Fuller’s Inns managing director Jonathon Swaine said: “The decision to invest in the pub was largely driven by popularity of the nearby 02 Arena, which is one of the biggest venues in the world, and the influx of tourists visiting the famous market, new cable cars and the Cutty Sark.”

Managed estate growth​

Fuller’s latest investment comes on the back of the London-based brewer and pub company reporting a like-for-like sales growth of 7.9 per cent in its managed pubs and hotels estate for the six months to 28 September. Profits for the division were up 16 per cent for the same period.

Adjusted profit for the entire Fuller’s business was up 8 per cent to £18.1m, while EBITDA increased 4 per cent, to £28.1m.

The tenanted division made a profit gain of 1 per cent. However, the brewing side of the business suffered a dip in volumes, with total beer and cider down by 1 per cent.

Fuller’s chief executive Simon Emeny said: “Our results have been driven by another excellent performance from Managed Pubs and Hotels, clearly demonstrating the ongoing appeal of our freshly prepared offer.

“The second half has started well, and the underlying momentum that characterised our trading in the first half has continued over the last seven weeks, with like-for-like sales in Managed Pubs and Hotels up 7.8 per cent over the 33 weeks.

Emeny added: “Our London and south-east based portfolio of well-invested quality pubs, a strong balance sheet and consistent long-term strategy leave us well placed for the future as we continue to invest in our people, our pubs and our brands.”