|
Young & Co’s Brewery PLC on Thursday said it was mindful of the incoming headwinds for the sector as it reported strong third-quarter sales figures. The London-based pub chain said total managed revenue grew 30% on-year in the five-weeks to January 13. Like-for-like sales rose by 12% over the same period from the year before. For the 15 weeks ended January 13, Young & Co’s said total managed revenue rose by 26% year-on-year and increased by 7.9% on a like-for-like basis. According to the firm, the sales growth represents ‘continued momentum from the strong trading position reported at the interim results in November’. It added that the strong growth has supported the increase in its financial year-to-date managed revenue position, which is up 5% on-year on a like-for-like basis. The firm said this serves as a testament to its strategy of continuing to invest in its premium estate, noting that some recently completed projects performed particularly well over its third-quarter. Chief Executive Simon Dodd said: ‘We are very pleased with our excellent trading over the festive period...We continued to break sales records across the period, delivering some of the highest daily sales in Young’s history. ‘Looking ahead, whilst we remain mindful of the headwinds facing consumers and the wider issues that our industry will encounter from the increase in both National Insurance contributions and National Living Wage, our business is in great shape, and we continue to be optimistic about the year ahead.’ Its shares were up 1.4% at 844.00 pence on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
