- Young & Co.'s Brewery said its sales had been hurt in the first quarter of its financial year by unfavorable weather.

Managed house sales for the 13 weeks through 2 July had risen 4.4%, though on a like-for-like basis they had fallen 2.1%.

'When we reported our results in May, we stated that it had been a tough start to the year, with the only good weather coming over the Easter bank holiday,' the company said.

'That pattern of poor weather has continued with an inevitable effect on our performance.'

Young & Co.'s Brewery said that it expected to benefit this year from acquisitions made last year, principally the Redcomb group of pubs.

'We are very confident about the enduring quality of our business and will continue to invest in the existing estate, in technology and in our people,' the company said.

'We remain positive about the year ahead and will update shareholders further at the half year.'

At 9:09am: [LON:YNGA] Young Cos Brewery PLC share price was -22.5p at 1677.5p

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