Pre-tax profit at Young & Co up 11.6% to £22.1m

10 November 2016 by
Pre-tax profit at Young & Co up 11.6% to £22.1m

Young & Co's Brewery has reported the fifth consecutive summer growth of over 5% (5.4%) in like-for-like revenue in its managed pubs, according to its interim results for the 26 weeks to 26 September 2016, published this morning.

Total revenue for the group, which comprises 250 pubs and boutique hotels in London and the south-east, was up 7.7% to £136m, while pre-tax profit increased 11.6% to £22.1m.

Patrick Dardis, chief executive of Young's, said that the success of the company stems from "years of investment to create one of the highest quality pub estates in the UK" and innovation to attract existing and new customers..

"We have rolled out our very successful BurgerShack concept to 21 pubs, we are embracing the newfound British love for brunch, and we have just launched ‘Young's on Tap, an app that makes the experience if a Young's pub even better."

However, Dardis said the company faced challenges: "the uncertainty over Brexit and cost pressures such as the National Living Wage, the apprenticeship levy, and on a successful company like us, an exceptionally high increase in business rates."

Young's operates pubs under three brands: Young's and Geronimo, which form its managed estate, and the Ram Pub Company.

Young's acquires the Canonbury in Islington >>

Young's buys Guildford pub from Heartstone Inns >>

Latest video from The Caterer

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking