Young's flags strong trading at start of new financial year

(Sharecast News) - Young's said on Tuesday that trading remained strong at the start of its new financial year, with revenue rising 9.4% in the 14 weeks to 6 July and like-for-like revenue up 5.5% against a strong comparative period. The pub operator said performance was driven by strong trading over the late May bank holiday, particularly at pubs with gardens and riverside locations, alongside demand linked to the FIFA World Cup, Wimbledon and contributions from the recently acquired Cubitt House estate.

"We are very pleased with our strong start to the new financial year," said chief executive Simon Dodd, adding that the group remained "well positioned and looking ahead to the rest of the year with confidence," despite a challenging backdrop.

At 0830 BST, shares in Young & Co's Brewery were up 4.47% at 888p.

Reporting by Josh White for Sharecast.com.

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