Total drink sales in is managed estate increased by 7.1% and by 5.6% on a like-for-like basis. Draught lager sales grew by 5.5%. Food sales grew by 6.9% and now comprise 31.5%. Food sales grew by 6.9% and now comprise 31.5% of its drink: food sales mix.
Stephen Goodyear, chief executive said: “Young’s has had another extremely good year, with further robust profit growth driven by increased revenue and strong operational management, reaping the rewards of our consistently high levels of investment in our estate over many years.”
Goodyear pointed to the upcoming Rugby World Cup as another key revenue stream, adding that he hoped the event would draw people into Young’s puns in south west London and beyond.
The company said it had a continued appetite for further acquisitions, alongside its existing estate and extending into southern cities and market towns that suit its premium offering.
Young’s is the third pub company to announce positive results, with Marston’s and Mitchells & Butlers announcing profit rises last week.