Revenues up as Youngs & Co makes good start to the year

Young's put their increase in revenue partly down to the UK's hot June
11/07/2017 - 10:12
Youngs & Co Brewery, P.L.C. has reported that it made a 'very positive' start to the current financial year with managed house revenues significantly up on both a like-for-like and total basis.

During the first 13 weeks of the year, managed house revenues were up by 10.8% in total while the like-for-like rise was put at 8.6%.

Speaking at the company’s annual general meeting, Chairman Stephen Goodyear, suggested that the UK’s spring and summer weather, in addition to the acquisitions the brewery and pub company made last year, were big factors.

“The dry and warm weather in April and the longest continuous hot spell in June for over 40 years has particularly benefitted our beautiful gardens and river based pubs,” said Goodyear.

With cost pressures from increased business rates, the national living wage and the uncertainty created by Brexit inevitably putting a strain on all companies in the sector, Goodyear believes that Young’s are still well placed to grow financially.

Goodyear said: “As every year of strong performance goes by, we set the bar higher for ourselves while the economic environment is becoming more challenging.

“However, I am confident that the expertise and energy that exists throughout Young’s and our very deliberate strategic positioning gives us the armoury to continue our outperformance of the sector. We operate very much at the premium end of the sector and the resilience of this segment’s customer base has, so far, been encouraging. “

Young and Co currently operates nearly 220 pubs around the country.

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