Young & Co.'s Brewery PLC (LON:YNGA) said it expects to open its pubs by August 3, though it warned trading activity will be significantly lower until next year.
The publican is also factoring in more severe scenarios where either venues remain closed or reopen and are then forced to close again.
READ: Young & Co suspends dividend payments
The firm, which has 276 pubs mostly located in London, said closures in the last 10 days of its financial year resulted in £13mln of revenue losses and a “disproportionate impact on profits”, estimated to be £7mln, due to limited opportunities for mitigating actions.
In the year to March 30, revenue rose 3% to £311mln while profit before tax tanked 24% to £29mln. It did not recommend a final dividend.
“This positive news may be toasted by patrons but they may choke on their pints when they find out what a trip to their local could be like in a ‘new normal’,” said AJ Bell’s Russ Mould.
“Will a more sterile setting with staff in masks and gloves, ordering drinks purely through an app and tables set two metres apart really appeal? On the other side of the equation will such measures be sufficient to calm fears over a risk of infection.”
Westminster’s ‘secret blueprint’ to reopen pubs
On Wednesday, breweries announced plans to produce 250mln pints of beers within the next two weeks as the government is reportedly drawing up a ‘secret blueprint’ to help UK pubs open again.
Venues could be asked to use an app to receive orders, like the one already implemented by JD Wetherspoon PLC (LON:JDW).
Last week, The City Pub Group PLC (LON:CTY) said there indications from Westminster that pubs with beer gardens might be able to resume trading in the first week of July.
The England-focused firm, which owns 47 outlets, is planning cashless bars, limited menus in its outlets with beer gardens and plastic glasses, paper plates and wooden cutlery to replace glasses, ceramics and metal knives and forks.
Shares in Young’s dipped 1% to 1,135p on Thursday early afternoon.