Q3 Trading Update
Q3 total managed revenue up 26.1%, like-for-like sales up 7.9%, festive period revenue up 30.4%.
- Total managed revenue (15 weeks to 13 Jan 2025) up 26.1%
- Like-for-like sales (15 weeks to 13 Jan 2025) up 7.9%
- Festive period total managed revenue (5 weeks to 13 Jan) up 30.4%
- Festive period like-for-like sales (5 weeks to 13 Jan) up 11.6%
- Christmas Eve/Day/Boxing Day like-for-like sales up 10.5%
- Year-to-date managed revenue like-for-like position up 5.5%
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EXCELLENT CHRISTMAS TRADING
Young's, the premium operator of pubs and bedrooms in London and the South of England, announces a trading update for the 15 weeks ended 13 January 2025.
Trading
Young's has traded exceptionally well over the Christmas and New Year period, with total managed revenue, reflecting contributions from both Young's and City Pubs, for the five-week festive period ending 13 January up 30.4% and like-for-like sales up 11.6%. The key festive days performed strongly, with combined like-for-like sales covering Christmas Eve, Christmas Day and Boxing Day up 10.5%.
Total managed revenue for the last 15 weeks ending 13 January 2025 increased 26.1% and 7.9% on a like-for-like basis. This represents continued momentum from the strong trading position reported at the interim results in November, improving our year-to-date managed revenue like-for-like position to 5.5%. This is testament to Young's proven strategy of continuing to invest significantly in our premium estate, with a number of recently completed projects delivering particularly strong performances in the period.
Simon Dodd, CEO of Young's, commented:
"We are very pleased with our excellent trading over the festive period, which reflects the rigorous planning, commitment and enthusiasm of our teams across the business. We continued to break sales records across the period, delivering some of the highest daily sales in Young's history. Our recent pub investments performed exceptionally well across the period."
"Looking ahead, whilst we remain mindful of the headwinds facing consumers and the wider issues that our industry will encounter from the increase in both National Insurance contributions and National Living Wage, our business is in great shape, and we continue to be optimistic about the year ahead."
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