Young's posts increase in revenue and profit

22 May 2014 by
Young's posts increase in revenue and profit

Pub company Young's has posted an increase in like-for-like revenue and profit before tax, in its preliminary results for the year ended 31 March 2014.

Revenue was up 8.8% to £210.7m compared to £193.6m for 2013, and profit before tax up 24% to £26.5m from £21.4m.

Growth was especially driven by good room occupancy, which was strong despite the poor weather over winter, and continued focus on growing the managed estate, including into London and south east market towns.

The group also invested £19.8m in its estate, and acquired two new managed and three tenanted pubs.

The growth was also positive thanks to increasing customer confidence, increased spending on food and drink, and the company's focus on London and the south east.

Chief executive Stephen Goodyear said the year had been excellent. He commented: "The consistently high level of investment in our estate, combined with the hard work put in by our teams across the group, is clearly paying off. Coupled with the improving economic news flow, this gives us every reason to be confident that the current year will be another positive one for Young's."

Caterer and Hotelkeeper 100: Stephen Goodyear, Young's >>

Meantime launches ‘brewery' fresh beer concept with Young's >>

Young's to sell famous Ram brewery in London's Wandsworth >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking