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ANALYST VIEWS:?WHAT DO YOU MAKE OF YOUNG’S RESULTS IN THE STRUGGLING PUB SECTOR?

MARK BRUMBY | LANGTON CAPITAL
“The brewery operation Wells & Young has once again turned in a ‘solid’ performance and the tenanted operation has been ‘comparatively strong’ and produced like-for-like revenue growth with volumes little changed. Young’s is well-positioned to meet the challenges that the trade will face during 2010 and beyond.”

PAUL HICKMAN | KBC PEEL HUNT
“In a difficult year Young’s has outperformed our forecast, prompting our six per cent earnings upgrade. A well invested estate and quality operations position the company well for likely higher tourism in the capital. Young’s has an enviable balance sheet and is well funded for expansion.”

JAMES DAWSON | CHARLES STANLEY
“Outlook shows promise, despite consumer concerns. The first eight weeks into the full year has seen like-for-like sales growth amongst the managed houses of +2.2 per cent and the prospect that the group has financial strength to make further site purchases.. It has reported adjusted profit before tax four per cent ahead of our forecasts and net debt in line with our expectations.”