Young’s posts record profit following City Pub Group buyout

Young’s has reached its highest ever profit levels, posting a total of £49.4m before tax in the year ending 1 April 2024, an increase of 9.1%.

 

This follows the brewery group exceeding pre-pandemic profit levels last financial year, and its recent £162m deal to acquire City Pub Group, which completed on 4 March.

 

In its latest financial year, Young’s revenue rose 7.4% from the previous 12 months, to £388.8m. Like-for-like sales were up by 3.4% across the year too.

 

City Pubs contributed £7.2m revenue and EBITDA of £1.7m during the four weeks of ownership in this trading period.

 

Outside of this acquisition, Young’s made £84.5m of investment across its estate, including £36.5m on eight individual acquisitions and £48m on existing pubs.

 

The group finished the financial year with a total of 288 pubs (2023: 227), including 56 pubs providing a total of 1,066 bedrooms.

 

Simon Dodd, chief executive of Young’s, said: “In a landmark year for Young’s, we have reported another excellent financial performance with industry leading profitability. This is once again testament to the excellent work and energy of our teams and our proven strategy of operating premium, individual, differentiated and well-invested pubs and bedrooms.”

 

Citing summer sporting events such as Euro ’24, Wimbledon and the Olympics as providing sales opportunities, he added: “Our belief in Young’s long-term growth potential remains as good as ever, and we are confident of our performance in the year ahead.”