Young & Co.'s Brewery (YNGA) H1 2026 earnings summary

Executive summary

• Achieved record half-year results with revenue up 5.4% to £263.6m and adjusted EBITDA up 5.9% to £62.5m, driven by strong trading, premium estate investments, and favorable weather.

• Integration of City Pub Group fully completed, with synergies supporting top-line growth.

• Like-for-like sales rose 5.7%, outperforming the market, with boosts from summer events.

• Announced a £10m share buyback and increased interim dividend by 6% to 12.22p per share, reflecting confidence in long-term growth.

• Continued investment in estate and people, with operational excellence driving growth and customer experience.

Financial highlights

• Revenue increased by 5.4% year-over-year to £263.6 million for H1 2026.

• Adjusted EBITDA rose 5.9% to £62.5 million; adjusted operating profit up 6.8% to £40.7 million.

• Adjusted profit before tax grew 9.9% to £31.1 million; basic EPS up 8.5% to 34.95p.

• Net debt reduced to £221.8 million; net debt/EBITDA (pre-IFRS 16) at 2.0x, post-IFRS 16 at 2.6x.

• Interim dividend increased by 6% to 12.22p per share.

Outlook and guidance

• Positive start to H2 with like-for-like sales up 4.2% and total sales up 4.4% in the last 13 weeks.

• Christmas bookings are strong, with pre-booked sales up 22% year-over-year.

• Ongoing focus on balancing debt reduction and investment, with a £10 million share buyback announced.

• Ongoing economic uncertainty, employment cost pressures, and potential tube strikes are being closely monitored.