Young & Co's Brewery PLC AGM Statement (2085D)
July 05 2016 - 2:00AM
UK Regulatory
TIDMYNGA
RNS Number : 2085D
Young & Co's Brewery PLC
05 July 2016
5 July 2016
Young & Co.'s Brewery, P.L.C.
AGM Trading Statement
At today's Annual General Meeting, Nick Bryan, Chairman of Young
& Co.'s Brewery, P.L.C., will make the following comments about
current trading:
"We have had a good start to the current year, without much help
from the weather. I am pleased to report that, in the first
thirteen weeks of the new financial year, managed house revenues
were up 6.5% in total, and up 4.1% on a like-for-like basis, and
this was again achieved against strong comparatives from a year
ago.
This financial year will benefit from the recent acquisitions of
the Woolpack (Bermondsey) and the Blue Boar (Chipping Norton), the
full year benefit of the eight pubs opened last year, and the
momentum created by investments made in the existing estate.
Clearly, the result of the EU Referendum has created considerable
political and economic uncertainty and it would be unwise for us to
speculate at this early stage on the longer-term effects on the
consumer. We remain focussed on our proven strategy and are well
positioned to deliver an excellent customer experience as well as
superior returns for our shareholders.
As announced on 22(nd) March, Stephen Goodyear steps down today
as CEO after 13 years in the role. I would like again to thank
Steve for his tremendous contribution to Young's, and I am
delighted that he has agreed to remain on the Board as a
Non-Executive Director. He is succeeded by Patrick Dardis, our
Retail Director. Having been on the Board since 2003 and with
responsibility for both Young's and Geronimo managed estates,
Patrick is well qualified for the role and I have no doubt that the
company will continue to thrive under his leadership."
- Ends -
For further information, please contact:
Young & Co.'s Brewery, P.L.C. 020 8875 7000
Stephen Goodyear, Chief Executive
Peter Whitehead, Finance Director
MHP Communications 020 3128 8100
John Olsen / James White / Gina Bell
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMUSABRNUABRAR
(END) Dow Jones Newswires
July 05, 2016 02:00 ET (06:00 GMT)