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Young's brewery proves resilient in testing times

Published:  23 July, 2008

Young's and Co has posted a 6.6% increase in revenue for the year-ended March 29 - evidence that the British brewery and pub chain is weathering the testing market conditions.

Stephen Goodyear, Young's chief executive, said he was pleased with the "strong" results particularly the 54.7% increase in adjusted profits before tax.

He added: "This is our first full year's trading since the major re-organisation and, given the current market conditions, the sale of the brewery looks well timed.

"Whilst the short term pressures facing the business and the wider UK economy are likely to continue to be challenging, we believe that we are in a strong position to meet them."

Trading in the first eight weeks of the new financial year had been resilient, Goodyear concluded.

The group acquired and developed nine pubs during this 12-month period for a total of 26.6 million with a further 9.4m invested in existing pubs in the Young's portfolio.