Young’s profit is up after food sales lift

YOUNG’S Brewery yesterday announced a profit rise – fuelled by food sales and a strong performance at its managed pub division.

Adjusted operating profit at Young’s Brewery increased by 7.1 per cent to £21.7m in the year to 4 April.

The revenues increased nearly 12 per cent to £142.6m and the dividend per share was up two per cent at 13.26p. Managed house revenue increased 13.2 per cent to £127.8m, with same outlet like for like revenue up 1.9 per cent, and operating profit up 11.1 per cent. Young’s bought upmarket pub chain Geronimo Inns for £60m at the back end of last year, adding 26 strong pubs to its estate.

Chief executive Stephen Goodyear said: “This has been a productive and exciting year. Overall, Young’s is in very good shape. Our food sales were also very strong. We are very pleased with these results.”