Young’s has announced an increase in revenue of 26% since the beginning of the new financial year thanks to a boost from the UK’s summer of sport.
The Champions league, Euros and Wimbledon have dominated pubs’ TV screens with customers heading to bars and beer gardens to make the most of the games.
Revenue in the last five weeks has risen by 33.8 per cent in total and 10.6 per cent on a like-for-like basis, outgoing chairman Stephen Goodyear said.
“This positive performance demonstrates that our proven strategy of operating premium, individual, and well-invested pubs and bedrooms consistently delivers industry-leading results.
“Customers flocked to our pubs to watch England make us proud, only narrowly missing out at the final of the Euros, and Wimbledon which although wet, saw a number of our pubs breaking records.
Adding: “Our pubs are looking forward to welcoming customers for the Olympics, followed by the autumn Rugby internationals in November,
Young’s also noted the purchase of City Pub Group, the largest acquisition in its near 200-year history, as an significant factor in driving long-term shareholder returns.
Mr Goodyear also confirmed he would be stepping down at the AGM and is set to be replaced by non-executive director Steve Cooke who said: “On behalf of the Board, I’d like to thank Steve for his incredible service and contribution to Young’s. During his tenure, Young’s has transformed and cemented itself as a leader in our sector. We wish him all the best for his retirement”
