Young's set to report strong spring sales

London-based brewer and pub operator Young & Co is set to report a strong start to its financial year and announce the acquisition of three freehold pubs in London.

At today's annual general meeting, chairman Nick Bryan will tell shareholders that managed house sales for the first 13 weeks are up 10.7% compared with the same three months last year, and up 6.8% on a like-for-like basis.

In May Young & Co reported an exceptional year to April 2013, with revenue up to £193.6m and pre-tax profit at £24.1m. It has now taken that momentum into this financial year.

Bryan said: "I am also pleased to report that within the last fortnight we have acquired three further freehold pubs within our London heartland.

"Our well located and invested estate together with our premium positioning as regards both product and service standards have enabled us to make strong progress against last year. Although remaining realistic about the economic outlook and consumer confidence, our recent performance demonstrates our ability to meet challenges that emerge and we are confident about our future prospects."

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