StockMarketWire.com - Young & Co reported an 8.7% increase in full-year total revenue even against the challenging market backdrop on the back of strong performance from the company's managed house division, which was enhanced by the acquisition of 15 Redcomb pubs.

Revenue for the 52 weeks to 1 April grew 8.7% to £303.7m with pre-tax profit climbing 5.1% to £39.5m.

"It has been a tough start to the year against very strong comparatives with the only good weather coming in the Easter bank holiday this year. Looking ahead, the amazing weather throughout the summer of 2018 and England's World Cup success sets a high benchmark for the coming months. However, we remain confident that we will continue our strong growth story in the coming year," said Chief Executive Patrick Dardis.

The company's managed house division makes up 95.6% of turnover, with like-for sales in the period up 5.1%, representing the eighth consecutive year of increases over 4.2%, the company said.

Young reported adjusted operating profits of £48.5m, up 3.4%, and a record high for the company.

For the last 13 weeks, the company said its total sales were up 9.4%, with like-for-like sales up 2.6%, reflecting the tough comparatives from last year's hot spring weather.

On the back of the results, the company said it was recommending an increase to the final dividend for the 22nd consecutive year, by 6.0% again, to 10.81p. This would give a total dividend for the year of 20.78p.


At 8:29am: [LON:YNGA] Young Cos Brewery PLC share price was +15p at 1862.5p



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