Shares in Fuller, Smith & Turner were flat on the FTSE in morning trading after pub owner and brewer reported a rise in revenue and pre-tax profit in the full year ended 2 April.
Revenue in the period was reported as rising six per cent to £241.9 million, while pre-tax profit increased 16 per cent to £31.0 million.
The group said it would be hiking its final dividend eight per cent to 7.05 pence per share.
Beer volumes during the year increased two per cent while profits at the group's Managed Pubs and Hotels business jumped 15 per cent.
Since the end of the period the group said it had acquired four new pubs and begun major investment in its breweries.
Michael Turner, Chairman of Fuller, Smith & Turner, commented, "I am pleased to announce a very strong set of results for the financial year driven by an excellent performance in our Managed Pubs and Hotels.
"Over the last five years our adjusted earnings per share have grown 71% demonstrating the Company's long term consistent out performance of the market. During this period the UK economy has endured the deepest trough since the Second World War and has still not recovered to its pre-recession level.
"We have made a good start to the new financial year in what has been a very unusual first nine weeks of trading with a Royal Wedding, five bank holidays and generally very good weather. Like for like sales in our Managed Pubs and Hotels for the nine weeks to 4 June 2011 have grown by 6.8%. For the same period total beer volumes are 1% higher than last year, with continued weakness in the UK On Trade again offset by growth elsewhere, particularly Exports and the Off Trade.
"With wages in the UK running behind inflation, our customers' incomes are being squeezed and we will have to work hard in the current year and beyond to earn their custom. We believe, however, that as the consumer is forced to become ever more discerning, our high quality offer of leading beer brands and well invested, often historic, pubs will be increasingly attractive and position us well for growth. We have the financial strength to invest further in new opportunities and should benefit from the "London factor" as the calendar turns towards 2012."
By 09:20 shares in Fuller, Smith & Turner were flat at 635.50 pence per share.