10th Jul 2007 11:30
Young & Co's Brewery PLC10 July 2007 10th July 2007 YOUNG & CO.'S BREWERY, P.L.C. AGM Trading Statement At today's AGM, Chris Sandland, Chairman of Young & Co.'s Brewery, P.L.C. madethe following comments about trading "I am pleased to report that we have had a good start to the year and tradingover the first 13 weeks of the current year is in line with expectations,notwithstanding a very wet month in June. Sales from our Retail activities wereup 15.4% in total with our managed house sales up 6.3% on a like for like basis(up 3.7% uninvested). We saw very strong trading in April and May, although thepast month has seen the impact of the poor weather, which was in direct contrastwith glorious sunshine last year. "We believe that Young's premium market position, well invested outside areasand quality food offering makes us well placed to withstand the impact of thesmoking ban. Compliance with the ban has been very good, with all our pubsreporting a positive customer response. However, at this early stage after only10 days trading since the ban it is impossible to distinguish between the impacton current trading patterns from the smoking ban and the weather. "In addition last week we received the £10.25 million cash due on completion ofthe sale of Buckhold Road, this will be used in the short term to repay debt.This is the first of the two payments due from the previously reportedWandsworth site disposals. The remaining £58.75 million, for the Brewery site,is due on completion in January 2008. "Taking all factors into account, while it remains early in our financial yearand there are some potential threats to trading on the horizon, we are confidentthat we remain on track to meet our strong growth expectations for the currentyear." For further information: Young & Co.'s Brewery, P.L.C. 020 8875 7000Stephen Goodyear, Chief ExecutivePeter Whitehead, Finance Director Hogarth Partnership 020 7357 9477James Longfield/Sarah Richardson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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