Young and Co’s Brewery has announced that total sales increased 95% for the 13-week period to 12 July 2021, when compared to the same period in 2019.
Speaking at the group’s annual general meeting (AGM), Stephen Goodyear, chairman at the company, claimed that Young’s has been trading “ahead of expectations” since the publication of its full year results on 20 May 2021.
Some 144 Young’s pubs were reopened on 12 April following the return to indoor hospitality, with the remainder of its estate resuming trading on 17 May.
Goodyear said: “Our trading has benefited from significant pent-up demand, as well as from the major capex programme undertaken in our pubs, hotels and outdoor areas and the delivery of some truly transformational projects.
“We are starting to see the benefit from our recent major developments, the majority of which were carried out and completed while we were closed during lockdown.”
Looking ahead, Young’s expects to “capitalise on another busy staycation summer”, as it benefits from a “large number of bookings” for wedding, parties, and events across the group’s “upgraded pubs and hotels”.
Goodyear added: “We will continue to focus on our strategy of running premium, differentiated and well-invested pubs and hotels.
“The strength of our balance sheet leaves us well-placed to make further investments and generate good returns for the long term.”