Young & Co's Brewery Plc (YNGA.L), a British operator of pubs and hotels, on Thursday reported an increase in earnings for the first-half, helped by higher revenue.
First half revenue growth was helped by a like-for-like performance of 4.4 percent, or 5.2 percent, excluding the Easter weekend impact, underpinned by continued investment in the company's existing estate and the full period's revenue from the City Pub Group.
For the six-month period to September 30, the company recorded a pre-tax income of 25.3 million pounds, higher than 24.5 million pounds, reported for the same period last year.
Adjusted earnings before tax were 28.3 million pounds, compared with 28 million pounds a year ago.
Net profit stood at 20 million pounds or 32.20 pence per share, up from 17.4 million pounds or 29.74 pence per share in 2023.
Excluding items, income was 22.8 million pounds or 36.71 pence per share as against previous year's 21.1 million pounds or 36.07 pence per share.
Total managed house revenue, supported by the City Pub Group acquisition, was up 27.3 percent, and 4.4 percent on a like-for-like basis, 5.2 percent excluding the Easter weekend impact, compared with the same period last year.
Revenue was 250 million pounds, up from the previous year's 196.5 million pounds.
The Board will pay an interim dividend of 11.53 pence per share, higher than last year's 10.88 pence per share. This is expected to be paid on December 6, to the shareholders on the register as of November 22.
Looking ahead, Simon Dodd, Chief Executive of Young & Co's Brewery, said: "In the second half of the year, we will see further benefit from the City Pub Group acquisition, with the new beer range contributing to improved margins, new food menus and improved operational rigour ensuring we are on track to achieve our planned synergy benefits in full."
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