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Young & Co’s Brewery PLC on Thursday said annual revenue jumped nearly 25% following its acquisition of City Pub Group in March last year, though profit declined due to integration costs and property revaluation losses. The London-based pub chain said revenue for the 52 weeks that ended March 31 rose 25% to £485.8 million from £388.8 million a year prior. Adjusted pretax profit edged up 4.5% to £51.6 million from £49.4 million. However, statutory pretax profit fell 13% to £18.1 million from £20.7 million, largely due to £33.5 million in adjusting items, including £21.8 million in property revaluation losses and £4.4 million in restructuring costs. Adjusted earnings per share slipped to 61.84 pence from 62.97p, while basic EPS dropped to 16.10p from 18.89p. Young’s declared a final dividend of 11.53p, resulting in a full-year payout of 23.06p, up 6.0% from 21.76p the prior year. The company said it has had a ‘fast start’ to the new financial year, with total sales in the past nine weeks up 9.4% year-on-year and like-for-like sales up 8.0%, supported by warm spring weather in the UK and strong Easter trading. The company announced board changes, with Nick Miller set to step down and John Dunsmore, former chief executive officer of cider maker C&C Group PLC, appointed as a non-executive director, effective after the July annual general meeting. Young’s Chief Executive Simon Dodd said: ‘We are in excellent shape&our premium, well-invested, predominantly freehold pub estate will continue to deliver profitable growth.’ Shares in Young’s were down 0.7% at 979.07 pence in London on Thursday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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