Young & Co (AIM:YNGA) said first-quarter trading started strongly, with warm-weather trading and a summer sports calendar helping lift sales across its premium pub estate.
Revenue for the 14 weeks from 31 March to 6 July rose 9.4% in total and 5.5% on a like-for-like basis, the pubs and bedrooms operator said ahead of its annual general meeting.
Young’s said trading was boosted by the late May bank holiday weekend, particularly at pubs with gardens and riverside locations, while the start of the FIFA World Cup, later England matches and Wimbledon also helped footfall.
The recently acquired Cubitt House estate made an early contribution and is integrating as planned, the company added.
Chief executive Simon Dodd said Young’s had made “a strong start to the new financial year”, supported by favourable weather, sport and its expanded estate. The company said it remains confident for the year ahead while continuing to invest selectively across its pubs and bedrooms.
