- Young & Co reports that at the year end, following the disposal of eight pubs, group revenue was up 25.5% at £179.0 million, and operating profit before exceptional items was up 20.3% at £26.2 million.

Despite the challenging consumer environment, Young & Co improved gross profit margins across the business. The operating margin, at 14.6%, was down from 15.2% last year, due primarily to the larger leasehold element within its Geronimo business and also to the lower initial margins generated by new sites.

Adjusted profit before tax increased by 17.4% to £21.3 million, reflecting last year's acquisition of Geronimo, market leading like-for-like sales growth in the managed business, and the continued strong performance of our hotels.

This year's reported results are significantly distorted by exceptional items and in particular the decision to change the accounting policy to take account of the estate revaluation which the group feels reflects the value of our property portfolio better

At 9:24am: [LON:YNGA] Young & Co's Brewery share price was +7p at 632p

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