4*
Young's, the premium operator of pubs and bedrooms in London and the South of England, issued a very positive indeed trading update for the 15 weeks ended 13 January 2025 and the share price is up around 3.5% off recent lows. The Group enjoyed “excellentR21; Christmas and New Year trading, with total managed revenue, reflecting contributions from both Young's and City Pubs, for the five-week festive period ending 13 January up 30.4% and like-for-like sales up 11.6%. 30%+ top line growth is obviously pretty stellar for the sector...from WealthOracle
wealthoracle.co.uk/detailed-result-full/YNGA/1151 |
Quite a bullish piece involving Youngs' Simon Dodd in today's Times business section - |
Looks a strong update today. I think Young's is the best pick of the pub sector. It's London focus and access to the tourist pound allows us to absorb any extra costs Labour throws our way. |
4*
Young & Co’s Brewery posted bumper HY numbers for the period ended 30th September this morning. Total revenue for the period was up 27.2% to £250.0 million, and adjusted EBITDA was up 23.2% to £59.0 million with managed house EBITDA for the period up 25.1% to £73.8 million. Like-for-like revenue growth of 4.4% (5.2% excluding Easter impact) was set against the challenging early spring and summer weather but was supported by an excellent EURO 24. Adjusted operating profit was up £7.1 million to £38.1 million, driven by a sector leading margin of 15.2%...from WealthOracle
wealthoracle.co.uk/detailed-result-full/YNGA/977 |
Update on how the large acquired pubs are performing is the key upcoming event. |
It looks likely AIM stocks are going to be removed from IHT relief in the Autumn budget. I'm wondering given the large market cap of Young's and Co without IHT relief it makes sense to move to a full LSE listing?
Does anyone else have any thoughts on this matter? |
their rates relief may be withdrawn I guess, and there's a possibility of BR withdrawal in the Budget, would be a shame for family owned companies,
against that Shepherd Neame reports stronger trading in London than outside which should read across?
A further headwind could be employers' NI charges raised.
At least the gardens smoking ban looks as though it's been abandoned- let's be thankful for very small crumbs! |
What caused the recent fall from 920? |
YNGA share price performance nearly even on YNGN on the 12 month now.
They had got out of kilter as mentioned in the YNGN board last week. |
I prefer the NV shares, however this price is beginning to look attractive.
Ultimately they will merge the two classes is my best guess.
The City Pubs overhang will not last forever. |
I became a Youngs shareholder as part of the buyout of City Pub Co. Not too impressed with the share price performance since December, to say the least. I just checked the company’s Financial Calendar on its website only to see “TBC” alongside every potential event. |
I purchased around £2k worth of YNGN back in Oct 2017 and have been significantly down for three years and really ought to cut my losses. With hindsight, I can't recall why I bought YNGN as distinct from YNGA - probably unknowingly!
The number I hold means that any voting rights I would have with the A shares would be totally insignificant, but why would one want to move from A to N? |
Lovely reaction to results. Tempted to swap some A shares for more NV. |
Youngs the quality sector play, YNGN gives a lower cost entry.
I hold a 40/60 split between YNGN and YNGA. |
Youngs & Co Brewery (YNGA) the brewing, pub and hotel company posted prelims a few weeks ago. The business was back to profitable trading in the year to 28th March 2022. Revenues were up to £309m, operating profit was £51.7m, basic EPS was back in positive territory and up to 58.83p. The financial position has strengthened, net debt has reduced by £74.9 million to £173.8 million and, with adjusted EBITDA of £82.5 million, net debt to EBITDA is conservative at 2.1 times. The top line is more or less back at pre-COVID peaks, EPS not quite. Valuation is not particularly helpful with the forward PE ratio over 20x and PS ratio around 2.4x. The balance sheet is solid as is the company more generally, but share price is still in a 6 month correction for now. YNGA is a share to monitor for the time being...
...from WealthOracle |
Can't see why anyone would hold these in preference to YNGN. You are getting the same economic interest (just no voting rights) for far less in YNGN than YNGA. |
Andrew Hollingworth mentions Young & Co (YNGA) in the latest PIWORLD Interview at 9m28s
Watch the video here:
Or listen to the podcast here: |
That's me out. The current price is something I would have expected by next summer.
Still got a few YNGN. |
Predictably awful interim results for the 6 months ending 28 September.
According to Investor's Champion the lengthy period of closure over the period meant that revenue fell 67% to £55.1m with the adjusted loss before tax £19.2m compared to the comparable period’s profit of £26.6m. |
Another equity raise on the way?. |
poor timing here on my part with a buy a few months ago but good company with some nice freeholds but yes if pubs have to close this could be bad news short term for whole sector. If i had more cash i may take a position at this level as a new investor. |
Had a small amount of YNGN (non voting) today, but there are significant risks atm.
A forced closure of pubs may be the next line of defence against COVID
which makes another possible equity raise more likely.
Hopefully something for hospitality tomorrow.
Youngs not something I could recommend to friends or family atm given the backdrop. |
have to hope for some targeted support for the hospitality sector workers which would allow them to be retained less than full-time..see what tomorrow brings. |
March 2020 low gone.
Another fund raising early next year may be needed.
The rub is, this time it may be more expensive and dilutive
because of a lower share price. |
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