Pub operator Young's reports strong performance

7th June 2010, 9:39am

Despite challenging market conditions, pub operator Young's has experienced pre-tax profits of £18.4 million for the period ending 29 March.

This figure is up from £4.2 million last year.

Other highlights include a solid performance from Wells & Young's "Know your Stuff" campaign, combined food and liquor margins are ahead of last year on a like-for-like basis, and £8.2 million has been invested in Managed houses during the period.

Stephen Goodyear, chief executive of Young's, commented: "Young's has recorded a strong performance in a year that has seen the pub industry face a number of challenges.

"This performance has been underpinned by the quality of our estate, the strength of the Young's brand, the much-valued loyalty of our customers and the considerable commitment of our people throughout the business."

"We have continued to invest in our managed and tenanted pubs as well as our hotel offering and are well positioned to expand our estate when value enhancing opportunities become available.

"Overall, Young's is in very good shape. Despite the risk of more restrained consumer expenditure in the near term, we have been encouraged by the positive trading performance since the year end and we are cautiously optimistic about the outlook for the current year as a whole."

Related Articles:

• 22 May 2012 - Young’s pub group raises over £40,000 for Help for Heroes charity
• 27 May 2011 - Pub operator Young's non-executive chairman steps down
• 11 Jan 2011 - Pub operator Young's launches new hotel in Wandsworth
• 03 Jun 2010 - Fish for Life wins prestigious award for Young's
• 28 May 2009 - Profits drop at Young's
• 01 Apr 2008 - DCL sells Young's pub

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