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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Young & Co's Brewery Plc | LSE:YNGA | London | Ordinary Share | GB00B2NDK765 | A' ORD 12.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-6.00 | -0.60% | 990.00 | 990.00 | 1,010.00 | 1,015.00 | 990.00 | 1,015.00 | 9,659 | 09:42:53 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Eating Places | 368.9M | 29.7M | 0.5078 | 12.25 | 363.77M |
TIDMYNGA
RNS Number : 0716U
Young & Co's Brewery PLC
10 July 2018
10 July 2018
Young & Co.'s Brewery, P.L.C.
AGM Trading Statement
At today's Annual General Meeting, Stephen Goodyear, Chairman of Young & Co.'s Brewery, P.L.C., will make the following comments about current trading:
"Trading in the current year has started well, with managed house sales for the first thirteen weeks up 8.8% in total and up 5.2% on a like-for-like basis. This performance is very pleasing given the very tough comparatives delivered this time last year when I was reporting to you that our managed house like-for-like sales were up 8.6%, aided by the hottest June in 40 years. We are, once more, benefiting from a long period of very warm weather.
We are already seeing some benefit from the seven acquisitions we made last year, and the three transfers from the Ram Pub Company, our tenanted operation, to managed houses. Both the Park (Teddington) with 43 bedrooms and the Bridge (Chertsey) with 51 rooms that we acquired at the end of March, increasing our hotel presence, will undergo redevelopment during the coming year. We expect to see the benefit of these two acquisitions later in 2019. We will also shortly be opening the Naturalist (Woodberry Down) and we are poised to start fitting out a further site in Kidbrooke Village.
The macro-economic and political environment remains challenging and the continued uncertainty surrounding Britain's future trading relationship with Europe is unhelpful for businesses. In addition, our sector faced huge cost headwinds last year and while these pressures have continued into the current year, they have slightly moderated.
Despite these challenges, we remain confident in our winning strategy of running differentiated well-invested, individual, premium pubs in excellent locations, which has a proven track record of outperforming the sector. We will continue to invest in our estate, our technology and our people and therefore, when combined with the hard work put in by our teams throughout Young's, we remain positive about the year ahead."
- Ends -
For further information, please contact:
Young & Co.'s Brewery, P.L.C. 020 8875 7000
Patrick Dardis, Chief Executive
Steven Robinson, Chief Financial Officer
MHP Communications 020 3128 8100
James White/Alistair de Kare-Silver/Robert Collett-Creedy
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
AGMEASXNESEPEFF
(END) Dow Jones Newswires
July 10, 2018 02:00 ET (06:00 GMT)
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