- Operating margin rises
- Robust London trading
The big news on Young & Co’s Brewery’s (YNGA) results day was of listed pub consolidation. The company has agreed terms on a £162mn deal to buy the entire share capital of fellow Aim traveller City Pub Group (CPC), which will increase Young’s managed trading estate by more than 20 per cent and should deliver margin benefits. Given the similarities between the two premium operators with their wet-led pub estates and site locations, the deal looks like a good bit of business.