Young’s Delivers Record-Breaking Results as Revenue Tops £500m Milestone
Young & Co.’s Brewery, P.L.C. has reported a record financial performance for the 52 weeks ended 30 March 2026, with revenue surpassing the half a billion pound mark for the first time as the premium pub operator continued to outperform against a challenging backdrop for the UK hospitality sector.
The London-focused pub group posted total revenue of £508.2 million, up 4.6% year-on-year, while statutory profit before tax more than doubled to £41.1 million from £18.1 million the previous year.
Adjusted profit before tax rose 2.9% to £53.1 million, with adjusted EBITDA increasing 1.4% to £115.2 million. Operating profit climbed sharply by 56.5% to £59.3 million.
Young’s said strong like-for-like revenue growth of 4.7% was driven by favourable spring weather, a record Christmas trading period and continued investment in premium food, drink and accommodation offerings.
The business maintained what it described as a “sector-leading” adjusted operating margin of 14.0%, despite ongoing inflationary pressures including higher National Insurance contributions, increases in the National Living Wage and rising food costs.
Net debt continued to reduce significantly, with pre-IFRS 16 net debt falling by £24.1 million to £224.2 million. The company’s leverage ratio improved to 2.0x adjusted EBITDA pre-IFRS 16, down from 2.4x the previous year.
Young’s also announced a recommended final dividend of 12.22 pence per share, taking the total dividend for the year to 24.44 pence, an increase of 6.0% year-on-year.
During the year, the group launched a £10 million share buyback programme covering its A ordinary and non-voting ordinary shares. By the period end, 975,027 shares had been repurchased for £6.1 million.
Trading momentum has continued into the new financial year, with total revenue for the first five weeks of the new period up 7.9%, while like-for-like sales increased 3.4% against strong prior year comparatives.
Post year-end, Young’s completed the acquisition of Cubitt House London Pubs on 22 April 2026, adding a portfolio of eight premium leasehold pubs and pubs with rooms across west London, with a ninth site currently in development.
The company also marked a significant corporate milestone by moving from AIM to the Main Market of the London Stock Exchange on 28 April 2026.
Commenting on the results, Chief Executive Simon Dodd said: “I am delighted to announce another exceptional set of results, reflecting a record-breaking 12 months for the business. We achieved a significant milestone, surpassing half a billion pounds in revenue, with multiple pubs across the estate delivering record performances throughout the year.”
Dodd highlighted the group’s investment in outdoor trading spaces, premium drinks and locally sourced seasonal food as key contributors to performance, alongside strong Christmas trading and continued capital investment across the estate, including projects at The Stag in Belsize Park and the iconic Half Moon in Putney.
He added: “We are optimistic about the future, and are off to a strong start in the new financial year. The business has positive momentum, we are investing well and our acquisition strategy is on track.”
Emma Bernardez, Partner and Head of Hospitality at accountancy firm HaysMac said: “Leading pub figures have successively pointed to an atmosphere of uncertainty, and Young’s final results this morning were no different. Consistent cost pressures have hit the hospitality industry since the pandemic. That this is continuing appears to be a natural consequence of the government failing to take a more strategic, comprehensive approach, heightened in the midst of ongoing geopolitical headwinds.
“It’s hard to see how this situation can be sustainable in the long term, when even the biggest names are highlighting the strain of a laundry list of financial challenges, including business rates, inflation, reduced consumer spending, and maybe now even an impending energy crisis.
“Young’s results are a rare bright spot in the midst of wider economic uncertainty, leveraging more ‘premiumisation’, and well-invested pubs to try and limit the headwinds that the sector is facing. And certainly, a summer of sport and good weather is a tantalising prospect to draw an often fickle consumer base back towards the attraction of pub socialising.
“Hospitality is a resilient sector, as Young’s results specifically pointed to, and with high numbers of forward bookings for the summer ahead, there may be further hope for Young’s and the wider sector.”