Young's hails England's performance at World Cup as pub revenue rises
Young & Co's Brewery PLC on Tuesday reported a "strong" start to its new financial year, citing strong demand at pubs with gardens during the FIFA World Cup and Wimbledon.
The London-based pub operator said revenue rose 9.4% in the 14 weeks to Monday and up 5.5% on a like-for-like basis against a strong comparative period.
Young's said trading was supported by warm weather over the late May bank holiday, strong demand at pubs with gardens and riverside locations, the start of the FIFA World Cup, Wimbledon and an early contribution from the recently acquired Cubitt House estate.
The company said it was a busy summer of sport, with "England's success in the World Cup so far a welcome boost"
Young's said it remains confident for the year ahead despite sector challenges and will continue to invest selectively across its premium pub and bedrooms estate.
Young's shares rose 2.8% to 873.60 pence each on Tuesday morning in London.
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