Third quarter revenue increase for Young's

Another large pub operator has revealed encouraging sales figures for the end of 2023. 

The positive trading momentum reported at the time of Young’s interim results in November 2023 continued over the Christmas period.  

Total managed revenue for the five-week Christmas and New Year period ending 1 January 2024 was up 9% and like-for-like sales were up 7.2%. The operator says there was significant demand across its local communities over the festive period.

For the start of the year, total managed revenue rose 6.9% and 4.7% on a like-for-like basis for the 13 weeks ended 1 January 2024.

Aquiring sites  

Young's has been particularly active when it comes to pub acquisitions. In November 2023, the boards of Young’s and The City Pub Group plc announced that they had reached an agreement on the sale of the latter to the former. The deal is now expected to complete on 4 March 2024. 

"We are pleased to report strong trading over Christmas, with our strategy of maintaining a premium, well-invested and differentiated estate continuing to resonate with our customers and communities," says Simon Dodd, CEO of Young’s. "It was a fantastic performance by our teams across the business and we recorded several of our best ever trading weeks, with some of the highest daily sales in Young’s history.

"We look forward to welcoming our new teams from City Pub Group to the Young’s family and working closely with them over the coming months as we integrate and invest in the combined business.

"While continuing to be mindful of the ongoing headwinds facing consumers and the wider macro-economic outlook, the business is performing in line with expectations, and we continue to be confident about the year ahead."

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