AGM Trading Statement

RNS Number : 2328K

Young & Co's Brewery PLC

12 July 2011

 



12 July 2011

Young & Co.'s Brewery, P.L.C.

AGM Trading Statement

At today's AGM, Christopher Sandland, Chairman of Young & Co.'s Brewery, P.L.C. made the following comments about trading:

"I am pleased to report that we have made a good start to the current year with trading in line with the Board's expectations. 

"After a strong first seven week period which was boosted by the excellent spring weather, managed house sales for the first quarter were up 2.7% on a like for like basis, and up 35.7% in total reflecting the addition of the Geronimo business to our group.

"The integration of Geronimo is complete and the synergies we envisaged at the time of the acquisition are flowing through.  We remain excited about the increased opportunities this acquisition brings to the group.

"As previously announced, we have three sites which will open in the current year:  The Cow, a Geronimo pub in the new Westfield shopping centre in Stratford opposite the Olympic stadium; and the Plough at Clapham Junction and the Wheatsheaf in Borough Market, both Young's pubs which are due to re-open in the second half. We continue to invest in our existing estate and to investigate further opportunities to expand both the Young's and Geronimo estates.

"Overall, we continue to believe that the quality and growth potential of our estate will help us to mitigate the effect of what remains a fragile economic recovery."

- Ends -

Enquiries:

Young & Co.'s Brewery, P.L.C.
Stephen Goodyear, Chief Executive Peter Whitehead, Finance Director	020 8875 7000
MHP Communications
John Olsen / James White	020 3128 8100

 

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