Young & Co's Brewery Pins Hopes On Rugby To Offset Wet Weather
Young & Co's Brewery has said that unseasonable wet weather hit sales in the first 13 weeks of its fiscal year, but added that the Rugby World Cup this autumn and warm-up fixtures over the summer would bring punters to its pubs.
The pub operator, which said it remained positive for the remainder of the year, reported a 2.1% drop in managed house sales on a like-for-like basis in the 13 weeks that ended on July 2.
"A Tough Start To The Year"
"It had been a tough start to the year, with the only good weather coming over the Easter bank holiday. That pattern of poor weather has continued with an inevitable effect on our performance," the company said.
Young & Co's Brewery joins rival Greene King, which said last month that a wet summer so far and poor sentiment had hurt its sales in the new financial year.
Acquisitions And Investments
Young & Co's Brewery said that it will benefit from acquisitions, mainly the Redcomb group of pubs, made last year. It also expects to see a boost from major investments made in The Park in Teddington and The Bridge in Chertsey hotels.
The brewer, which had raked in sales from a warm summer last year, said that managed house sales rose 4.4% in total.