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.
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