Young's raises a glass to sport as sales increase

Pub group Young’s says it is “well-positioned” after the World Cup and Wimbledon helped it shrug off industry “challenges”.

The business also hailed sunny weather for filling beer gardens as revenues increased.

Sales over the 14 weeks from March 31 to July 6 were 9.4 per cent higher than the same period a year ago.

The figure slows to 5.5 per cent on a like-for-like basis, which strips out the impact of new venues.

The firm – which runs pubs and hotel rooms in London, the South East and South West – said its financial performance was boosted by “exceptional” trading over the late May bank holiday weekend, particularly in pubs with gardens or riverside locations.

The start of the World Cup also delivered an uplift, helped by extended opening hours for later England matches, with Wimbledon additionally reeling in visitors, thanks to the chain operating a string of venues in the area.

Chief executive Simon Dodd said its pubs were “performing strongly in the first quarter” of the new financial year.

He added: “(The performance) was supported by favourable weather, a busy summer of sport and contributions from our expanded estate.

“While the backdrop remains challenging, we are well-positioned and looking ahead to the rest of the year with confidence.”

Young’s recently bought eight gastropubs and pubs with rooms from Cubitt House London Pubs.

Its wider estate includes pubs in London, Berkshire, Devon, Gloucestershire, Hertfordshire, Kent, Oxfordshire and Sussex. 

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