Young’s reports 5.6% sales rise

Young-s-results-for-the-26-week-period-ended-2-October-2023.jpg
Positive momentum: Young's CEO says Simon Dodd the pubco is confident about the year ahead

London-based pubco Young’s has reported a 5.6% rise in like-for-like sales in its interim trading update.

The trading report, based on the 24 weeks ended 15 September, also showed total sales were up 5.3% during the period.

It continued the “strong momentum” reported in July, when sales were up 6.6% in total and 7% on a like-for-like basis for the first 14 weeks of the financial year against 2024.

The pubco, which operates around 280 sites, said it was “encouraged” by the sustained positive momentum and was on track deliver in line with expectations for the half year.

External pressures

In addition, despite ongoing external pressures, the company asserted it remained confident for the rest of the year.

On these latest results, Young’s CEO Simon Dodd commented: “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.”

The pubco added sales had been boosted by ongoing sunny weather, demonstrating the impact of its recent outdoor investment schemes ahead of the summer period and a “healthy demand” for premium pubs.

Continued investment

Other recent investments include several city pubs, such as Daly’s Wine Bar and Bow Street Tavern in west London as well as the Old Firehouse in Exeter ahead of the autumn and festive season. Going forward, Young’s said it would continue to invest in and evolve its premium estate.

Last week, Young’s also announced a limited rerun of its Waggle Dance pale ale to mark its 194th anniversary and celebrate Cask Ale Week 2025.

Available from Thursday 18 September, Waggle Dance will be on offer at just 24 Young’s pubs while stocks last.