Young’s credits improved performance to growing pub estate
Young’s pub and brewery company has credited its “improving and growing” estate with higher revenue figures during the beginning of the current financial year.
In the first 13 weeks of 2023, Young’s revenue was up by 8.3% in total and 6.8% on a like-for-like basis against 2022.
The group’s chair, Stephen Goodyear, has said that investment in its growing estate is the “key driver” behind its performance.
He added that the group has already seen the benefits of acquisitions it made last year, which included the Griffin Inn in Fletching near Uckfield, East Sussex.
A number of investments into Young’s existing estate were also credited, such as projects at the Marquess of Anglesey in Covent Garden, the Hare and Hounds in East Sheen, Hort’s Townhouse in Bristol, and the Clapham North in London, which is set to open in August.
Young’s has also recently purchased the freehold interest in The Stag in Belsize Park and exchanged on three properties in the south of England.
In May, the group said it was ensuring a “steady pipeline” of new openings.
Goodyear said the Young’s board is optimistic for the year ahead, and is looking forward to this autumn’s Rugby World Cup and the warmup fixtures during the summer. He said the group will continue to invest in the future growth of the business.