Young & Co's Brewery plc (YNGA.L) posted full-year loss before tax of 7.5 million pounds versus profit of 13.29 million pounds last year.
Loss per 12.5p ordinary share was 13.45 pence versus earnings per 12.5p ordinary share of 36.97 pence in the prior year.
Adjusted profit before tax was up 17.4% to 21.33 million pounds from a year ago.
Revenue grew 25.5% year-over-year to 178.96 million pounds. Whilst this was significantly enhanced by a full year's contribution from Geronimo, compared with 16 weeks last year, the company also delivered strong like-for-like managed house growth across both Young's and Geronimo.
Revenue for the year, which reflects a full year's contribution from Geronimo, was up 29.1%.
The board is recommending a 5.1% increase in the final dividend to 7.25 pence per share, making a total dividend for the year of 13.93 pence.
Stephen Goodyear, Chief Executive of Young's, commented, "Young's is in very good shape. The start of the year has been affected by the generally dismal weather. Nevertheless sales for the first seven weeks were up 3.9%, but down 2.0% on a like-for-like basis. We are excited about the prospects that the Jubilee and Olympic summer will bring. Whilst the economy remains fragile, we believe that, with our focused and high-quality offering, we are well placed to continue to achieve growth."
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by RTT Staff Writer
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