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Young & Co's Brewery 'A' Shares (YNGA)

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Young's FY profit rises but 2019 sees 'tough' start

23 May 19

LONDON (ShareCast) - (Sharecast News) - Pub operator Young & Co's reported a rise in full-year profit and revenue on Thursday as it hiked its dividend but cautioned that it had had a tough start to the year after the "amazing" summer of 2018 and the boost from the World Cup.
In the year to 1 April 2019, adjusted pre-tax profit increased 5.9% to 43.4m on revenue of 303.7m, up 8.7% on the previous year.

Operating profit ticked up 2.5% during the year to 44.6m and adjusted basic earnings per share were 6.5% higher at 72.13p. The dividend per share was lifted by 6% to 20.78p.

Young's said the managed house division - which now makes up 95.6% of turnover - was the main driver of growth, with like-for-like sales up 5.1%.

Chief executive Patrick Dardis said: "Our riverside locations, beautiful gardens and growing number of roof terraces meant the business was well placed to take advantage of the fabulous summer weather and the performance of the England football team at the FIFA World Cup. The Christmas trading period was also very strong, with Young's pubs packed full of seasonal cheer and merriment."

Dardis said it's been a "tough" start to the year against very strong comparatives, with the only good weather coming in the Easter bank holiday this year.

"Looking ahead, the amazing weather throughout the summer of 2018 and England's World Cup success sets a high benchmark for the coming months," he said. "However, we remain confident that we will continue our strong growth story in the coming year."

At 1255 BST, the shares were down 0.4% at 1,840.55p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 1,650.00p
Change Today 15.00p
52 Week High 1,885.00p
52 Week Low 1,520.00p
Volume 4,654
Shares Issued 29.88m
Market Cap 492.96m


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