Young & Co.'s Brewery (YNGA) Q3 2024 TU earnings summary

Trading performance

• Achieved 9.0% growth in total managed revenue and 7.2% like-for-like sales during the five-week Christmas and New Year period ending 1 January 2024.

• For the 13 weeks ended 1 January 2024, total managed revenue rose 6.9% and like-for-like sales increased 4.7%, reflecting ongoing investment in the premium estate.

• Strong demand was observed across local communities during the festive period, resulting in several record trading weeks and some of the highest daily sales in company history.

Strategic developments

• Acquisition of City Pub Group is progressing, with City Pub Group shareholders voting strongly in favor; completion expected on 4 March 2024.

• Integration and investment in the combined business are planned following the acquisition, with a focus on welcoming new teams.

Outlook and management commentary

• Business performance remains in line with expectations despite ongoing consumer and macroeconomic headwinds.

• Management expresses continued confidence for the year ahead, emphasizing the effectiveness of the premium, differentiated estate strategy.