Britain’s Indian summer drove a 14 per cent jump in underlying operating profits at Young & Co’s Brewery (YNGA) in the six months to 29 September. Like-for-like sales across the managed estate rose 7 per cent, and the tenanted division returned to growth, with underlying sales up nearly 5 per cent.
The group has invested heavily in its London-centric estate in the past six months. It picked up private pubco 580 Ltd for £10.4m after the period-end, adding four new managed pubs to its portfolio. These include the Defector's World (a freehold in Shepherds Bush) and the Owl & Pussycat, a leasehold in trendy Shoreditch. It also expanded its hotel business, adding 63 rooms during the period through a mix of acquisitions, transfers and conversions of existing space.