Pub companies hoping for a repeat of last year’s exceptionally warm weather have so far been disappointed. Young & Co (YNGA) reported a 2.1 per cent decline in like-for-like sales from its managed houses in the first quarter of its financial year, compared with a 5.2 per cent increase the pub company reported for the same period last year. On a brighter note, total sales for the period are up 4.4 per cent.
Young’s management lamented that the only good weather for the period had been over the Easter bank holiday. Weather aside, it’s expected that the company will benefit from acquisitions made last year, especially the Redcomb group of pubs, along with investment made in its hotel business. Analysts at Panmure Gordon & Co maintained their forecast of 2.5 per cent like-for-like sales growth from the managed house estate for the 2020 financial year.
