No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Young & Co's Brewery said it had seen strong trading throughout the year on Thursday despite "considerable" challenges facing the pub sector.
The 195-year-old firm, which operates pubs and bedrooms across London and the south east, said total managed house revenues rose 4.6% in the 52 weeks to 30 March, with like-for-like sales 4.7% stronger.
"As such, trading for the full year is expected to be in line with management's expectations," it confirmed, despite the "considerable and well publicised challenges facing the sector".
The hospitality sector is facing a number of headwinds, including higher labour costs following a rise in the minimum wage and employer National Insurance contributions, business rates and stiff competition. Energy bills are also set to spike for both consumers and businesses following the outbreak of war in the Middle East.
However, chief executive Simon Dodd said: "Our proven strategy of operating premium, well-invested pubs continues to deliver strong resilient results. Another year of strong performance demonstrates that, even amid ongoing pressure and uncertainty, customers continue to choose Young's pubs."
Shares in Young's were largely unchanged at 797.04p as at 0900 BST. The company is due to transfer from AIM to the main market at the end of this month.
Young's is due to publish full-year earnings on 21 May.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.