Young’s sales rise 5.6% over summer period
The pub group said it was ‘confident’ in expectations for the rest of the year, despite ongoing external pressures, including recent strikes on the London underground network
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Young’s has reported that trading momentum has remained strong in the 24 weeks ended 15 September, with like-for-like sales up 5.6% and total sales up 5.3%.
The group said this reflected a “healthy demand” for its pubs, supported by the ongoing sunny weather over the summer as customers “continued to enjoy our gardens, riverside locations and outdoor spaces”.
It comes as the group had launched several investment schemes across its estate ahead of the summer period, including investments in several former City Pub sites such as Daly’s Wine Bar, Bow Street Tavern and the Old Firehouse, all completed ahead of the autumn and festive periods.
The group said it was “encouraged by this sustained positive momentum” and will deliver in line with expectations for the half year.
It added it remains “confident” in expectations for the rest of the year, despite ongoing external pressures, including recent strikes on the London underground network.
Simon Dodd, CEO of Young’s, said: “It is fantastic to be reporting another strong trading period for Young’s. This performance is all thanks to our brilliant teams who continue to delight our customers across our well invested pubs, against a backdrop of prolonged warm weather in the UK.
“We enter the autumn in a strong position and expect to maintain the momentum into the all-important Christmas trading period, giving us confidence in the remainder of the year.”
