Wine sales rise boosts Young's

Pub group Young's saw sales at its managed pubs increase by 6% and profits by 5% during the year to 31 March.

The company's annual report said beer sales remained at the same level as last year, while wine sales were up by 11%.

Overall, the brewery and pub group reported a 20.2% increase in pre-tax profits to £10.3m, on an annual turnover up by 5.7% to £96.9m.

During the year, it bought 18 pub hotels for £7.4m, and sold three at a profit of £1.75m.

It also bought 13 managed pubs, 12 from the Bristol-based Smiles Brewery in a £5.8m deal last November, and the Rising Sun in Twickenham, Middlesex, bringing the total of its managed pubs to 155.

Young's spent £8.8m on refurbishing 11 managed pubs and added 49 bedrooms to its pub hotels, bringing its number of bedrooms to 287.

A further 31 bedrooms are scheduled to open next month at the Coach and Horses in Kew, Surrey.

Occupancy rates at the hotels were slightly down at 70%, compared with about 72% last year. Average room rates were up by 7.7% to £64.62.

The company also bought five tenanted pubs, bringing its total to 46.