Shares in Fuller, Smith & Turner were up in afternoon trading after the pub-owner reported a rise in sales in the quarter ended 17 July.

The group said its Fuller's Inns business saw like for like sales at managed pubs and hotels rise 4.1 per cent, while tenanted like for like profits increased one per cent.

However the volume of Fuller's own brewed beer sold by its brewing business fell by two per cent in the period.

"These LFL sales numbers are excellent and represent 'best in breed' for listed players which give out this metric. We believe that the company benefited from the sunny weather, the world cup and its London / Southeast premium positioning." said Hugh-Guy Lorriman of Seymore Pierce stockbrokers.

"The tenanted division performance is also best in breed considering that the rest of the industry continues to report LFL profit decline."

Cash generation meanwhile, was reported as being strong while net debt fell from £107.7 at the end of the previous quarter to £102.0 million.

Michael Turner, Chairman of Fuller, Smith & Turner, said, "Fuller's has started the year well. In the first 16 weeks of this year, our Managed Pubs and Hotels like for like sales increase of 4.1% is again amongst the very best in our sector. 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."

"A healthy IMS released by Fuller's today will serve to further support the share price. As anticipated the degree of London bias to the Fuller's estate continues to support the business. We also believe that the Hampshire sites with meaningful outside space will have benefited from the recent spell of hot weather. We reiterate our 12m PT of 635p and upgrade to ADD (Hold)." said James Dawson, analyst at Charles Stanley Securities.

By 14:52 shares in Fuller, Smith & Turner were up 1.54 per cent to 559.50 pence per share.