A “pattern of poor weather” has had an “inevitable effect” on the performance of Young’s pub company.
In a trading update for the 13 weeks to 2 July 2019 the company said like-for-like sales were 2.1% for the period compared to a 5.2% increase reported last year.
The company said: “When we reported our results in May, we stated that it had been a tough start to the year, with the only good weather coming over the Easter bank holiday. That pattern of poor weather has continued with an inevitable effect on our performance.”
By comparison, at last year’s annual general meeting, like-for-like sales jumped 5.2% thanks to the summer heatwave and football World Cup.
In a statement, the company added: “We will also see the full year benefit of our major investments in the two hotels we added last year: The Park (Teddington) and The Bridge (Chertsey). We also opened The Depot (Kidbrooke Village) and transferred The New Inn (Ealing) from the Ram Pub Company into the managed house division, with the true benefit coming later in the year following a planned refurbishment.”
Looking forward, the company also said they “remain positive” for the year ahead and made no mention of Brexit – despite several rivals in the retail and leisure space voicing concerns over a no-deal Brexit.
On the rugby World Cup, bosses hope to bring in good business, saying : “Despite the early morning kick-off times for the tournament, we expect it to be good for trade.”