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London-based brewer and pub group Fuller Smith and Turner has reported a 16 per cent increase in pre-tax profits.

In a statement today the company, the largest pub owner in the capital's financial district, said its profit before tax climbed to £12.7 million in the 26 weeks to September 29th – up from the £10.9 million reported for the corresponding period of last year.

Fuller's also reported a three per cent increase in revenues, which rose to £93.3 million and a 52 per cent rise in basic earnings per share – which lifted to 20.34p.

Welcoming the results Fuller's chairman, Michael Turner, said: "We have had a very pleasing start to the year across all parts of the business and I am delighted to report another record-breaking set of results."

The group's Fuller's Inns business increased its operating profits by four per cent to £13.3 million over the period, reflecting a one per cent rise in revenues – which climbed to £73.5 million.

Fuller's said it was still too early to determine the true impact of the smoking ban – introduced in England this summer – but stressed its investment in outside areas and marketing initiatives had left the business "well positioned" to deal with the potential effect on trading over the winter months.

Meanwhile the Fuller's Beer Company also saw a "solid" half-year performance, with operating profits up two per cent to £3.5 million and revenues increasing by four per cent to £30.3 million.

Fuller's revealed its London Pride beer had again grown its market share and volumes in all markets.

The company has boosted the value of its interim dividend by eight per cent to 2.80p – claiming the "strong increase" reflects the group's confidence in its financial strength and potential for future growth.