Young & Co's Brewery PLC AGM Trading Statement (7289F)
20 Julio 2021 - 1:00AM
UK Regulatory
TIDMYNGA
RNS Number : 7289F
Young & Co's Brewery PLC
20 July 2021
20 July 2021
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:
"We are pleased to report that trading has continued to be ahead
of the board's expectations following publication of our full year
results on 20 May 2021.
On 12 April, we opened 144 pubs for trading in outdoor spaces
only, and on 17 May, the remainder of our estate resumed trading
when we were allowed to open indoors as well, albeit still with
some restrictions. For the 13-week period from 12 April to 12 July,
total sales were 95% of the same period in 2019 (when we were fully
open throughout).
Our trading has benefited from significant pent-up demand, as
well as from the major capex programme undertaken in our pubs,
hotels and outdoor areas and the delivery of some truly
transformational projects. We are starting to see the benefit from
our recent major developments, the majority of which were carried
out and completed while we were closed during lockdown.
We were disappointed to have not been able to resume full
trading on 21 June 2021, the originally scheduled 'freedom day',
but are pleased we are now able to operate close to normal
following yesterday's lifting of restrictions. We remain optimistic
about the balance of the financial year to March 2022 and believe
our new and upgraded pubs and hotels and the large number of
bookings we have for weddings, parties and other events put us in a
strong position to capitalise on another busy staycation
summer.
We will continue to focus on our strategy of running premium,
differentiated and well-invested pubs and hotels. The strength of
our balance sheet leaves us well-placed to make further investments
and generate good returns for the long term."
- Ends -
For further information, please contact:
Young & Co.'s Brewery, P.L.C. 020 8875 7000
Patrick Dardis, Chief Executive
Mike Owen, Chief Financial Officer
MHP Communications 020 3128 8742 / 8147
Tim Rowntree/Alistair de Kare-Silver/Robert
Collett-Creedy
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END
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