Young & Co's Brewery Share Discussion Threads

[34adsaddsa] 20/5/2025 22:09:56

I think you must have meant topped up your YNGN with some YNGA if you can now vote?

I think the gap between the voters and the non-voters will reduce over time. The voters are less concentrated than they were. That trend is very likely to continue, particularly given the IHT changes to AIM shares. They're going to be disbursed to more relatives and people are going to want to diversify their wealth.

As the shareholder base gets more varied, the benefit of owning the voters become relatively less valuable because the risk of being stuck with undesirable decisions made by a small number of connected shareholders is reduced.

[wad collector] 20/5/2025 21:10:42

Just noticed our broker has accidentally topped up our YNGA holdings with some YNGN.
Easy mistake to make I guess....
So now we can vote a bit. Great!
Same dividend but 50% more expensive. I will have to work that one out...

[wad collector] 16/5/2025 20:47:55

I think we can safely say that the share price has recovered. 9 month high.
Still way off our £9 buy though

[34adsaddsa] 02/5/2025 12:19:15

I did say the huge selling at 5.50 was reckless. The discount to the voters continues to be baffling. It all makes me think UK fund managers are very dim.

[essentialinvestor] 01/5/2025 14:18:34

Nice move off the recent low.

[essentialinvestor] 25/4/2025 13:48:11

Key outlook statement to come with the FY results, have UK consumers stated cutting back

[34adsaddsa] 24/4/2025 15:34:39

562K traded. Whoever is selling here is being very reckless. Highest volume in over a decade according to HL's data.

[34adsaddsa] 24/4/2025 14:52:32

3x 100K blocks. 312K volume vs 12K for voters.

Once the seller is cleared this thing will rocket IMO.

[34adsaddsa] 15/4/2025 11:27:16

The voting shares have recovered very well but the non-voters are lagging badly. The discount is now over 35% which doesn't make any sense to me. Does anyone think such a big discount is justified?

[essentialinvestor] 31/3/2025 15:03:02

Spec, yes not particularly a cheap night out,
but JDW can (relatively speaking) still provide that.

Young's have over 1,000 rooms in their estate following the City Pubs deal, so accomodation an increasingly important area of the business.


I have no doubt there are further widespread pub closures to come over the next 2/3 years.

[essentialinvestor] 31/3/2025 14:56:20

I notice they are looking for an operations manager for the London area, I can see what Oliver now meant when he mentioned looking after his colleagues area.

Also around here they are advertising for a GM for the Wheatsheaf pub in Esher.

The OM's earn approx 80k plus, with an additional performance related bonus.

[spectoacc] 29/3/2025 12:07:29

Alcohol is so expensive these days - it's no wonder pubs are closing, & the yoof don't drink much.

YNGN down over 10 years, not to say it isn't a buy now.

[essentialinvestor] 29/3/2025 08:43:38

Unfortunately not!, and having checked the receipt it was 6.15, not 6.50 for a pint.

I also noticed the pub in question was advertising for a new General Manager (Hand and Spear, Weybridge).


This bit caught my eye from the advert

What We Offer Our General Managers:
Huge annual bonus potential - up to 100% of salary..

[spectoacc] 29/3/2025 08:20:59

A free pint? ;)

[essentialinvestor] 28/3/2025 17:14:00

I spoke with Oliver Aubrey-Thomas, who called me back. Issue dealt with very well in the end.

[spectoacc] 28/3/2025 15:43:30

Average £4.5k off UC is going to hit the lower end more (eg Wetherspoons, not that I'm suggesting that's where UC gets spent necessarily. BME too).

[essentialinvestor] 28/3/2025 14:24:36

Just for transparency, I've added the NV's today.

Small amount.

[pugugly] 28/3/2025 14:18:01

Agreed re weaker competitors - Jury out on other areas.

[essentialinvestor] 28/3/2025 14:05:38

That's arguably half the story, what do you consider happens to weaker competitors - both pubs and restaurants..

It leaves Young's in a stronger, not a weaker position longer term.

May be my take will prove to be incorrect, however I see a huge number of weaker competitors closing units.

In terms of whether the share has further to fall, you may be right.

On current consensus , the NV shares sell on 8.5 X.

[pugugly] 28/3/2025 14:01:03

Not just AIM - IHT (imo) RR the destroyer has made the hospitality sector a no go area for profitability and hence uninvestable.
Can see both shares continuing to fall.

[essentialinvestor] 28/3/2025 13:23:52

Well my last post wondered whether there could be a sell off in to the end of this tax year with AIM IHT changes, we now know the answer.

[34adsaddsa] 16/1/2025 11:51:38

Yes. I think this is about as insulated from government bond yield problems/cost of living as you could reasonably hope for in the pub sector.

I want them to get debt down a bit more and then start repurchasing non-voting shares. Given they're trading below 50% of NAV, it's surely a better investment than purchasing pubs from others.

[essentialinvestor] 16/1/2025 09:33:50

Very decent Christmas performance.

First major indication that the City Pubs deal will be a success, given the confidence expressed on the outlook.

The issue with AIM now being less attractive re IHT, could there be a sell off in to the end of this tax year..