Young's posts £37m profit after a year of lucrative acquisitions

21 May 2015 by
Young's posts £37m profit after a year of lucrative acquisitions

Young's has seen an increase in operating profit of 12.7% to £37.4m, with growth across all areas of the business.

The London-based pub and hotel group said it would now seek further acquisitions, looking into southern cities and market towns.

Revenue for the year to 30 March 2015 was up 7.7% at £227m, with 6.5% growth in the contribution from managed houses.

Food sales across the ground grew by 6.9% and now comprise 31% of the drink/food sales mix.

At the year-end it operated 166 managed pubs, including 22 hotels, and had 80 tenancies.

During the period Young's spent £24.3m on acquisitions, including the Fox & Anchor pub and hotel in Smithfield Market and the White Bear in Kennington.

In October it purchased the 580 Group for £10.4m, adding four large London pubs to its portfolio. In January it acquired pub and hotel the Bell at Stow in the Cotswolds and the Trafalgar Arms in Tooting.

"Trading in the current year has started promisingly, with managed house revenue in the first seven weeks up 8.1% in total and 5.6% like-for-like. We have a number of new pubs to come on stream this year, and we look forward to this autumn's Rugby World Cup drawing people into Young's pubs in south west London and beyond."

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