Young & Co, which own’s Young’s, Geronimo and Ram Pub Company, has reported an overall revenue growth of 9%, with all its brands achieving high single digit growth.
Its revenue was £267m as it reported “another very successful year’s trading, continuing the consistent run of outperformance driven by our premium estate of differentiated, individual pubs and hotels”.
Over the year, the group invested £38m in acquisitions, transformational developments and estate upgrades. Meanwhile, its operating profit saw around 10% growth to £58m.
“I am delighted with these results. Yet again we have outperformed the sector, and made progress on all key measures, with revenue, profit, margin, cash generation, investment, the value of our pub estate and shareholder returns all strongly ahead,” commented CEO Patrick Dardis.
“This is the reward for our consistent strategy of running high quality, differentiated, individual and well invested pubs, at the heart of the communities in which they sit.’
He continyed: “The broader economic and political environment remains uncertain and our sector faces unwelcome cost pressures on a number of fronts. In response, we are working hard to ensure we are best placed for whatever is around the corner.
“We have a reliable track record, a very clear strategy, a great team of people, and the financial muscle to continue to grow. We will continue to surprise and delight our customers, and to grow our estate through carefully selected acquisitions and developments, all in pursuit of delivering superior returns for our shareholders.”
The group has said that the mild and dry weather during April and the increase in “staycations” during the Easter holidays drove footfall, however this was dampened by a comparatively wet May.