Young's happy with 'industry-leading' profits
Young’s has said it is delivering “industry-leading” profitability.
Following the announcement of its full-year results for the 52 weeks ended 1 April 2024, pub operator Young's has said it is delivering "industry-leading" profitability.
Compared to last year, total revenue for the period was up 7.4% to £388.8m, with adjusted EBITDA up 7.8% to £92.2m. Within its managed house division, adjusted EBITDA for the period was up 7.1% to £112.7m.
Young's also saw an adjusted profit before tax growth of 9.3% to a record £49.4m for the period.
"In a landmark year for Young’s, we have reported another excellent financial performance with industry-leading profitability," says Simon Dodd, chief executive of Young’s. "This is once again testament to the excellent work and energy of our teams and our proven strategy of operating premium, individual, differentiated and well-invested pubs and bedrooms."
City Pub Group integration
At the beginning of March, Young's completed the acquisition of The City Pub Group, which contributed £7.2m revenue and an EBITDA of £1.7m for the four weeks of ownership in the period.
"We were delighted to complete on our acquisition of The City Pub Group in March, a real milestone for Young’s," adds Dodd. "We welcome the City team to the Young’s family and respect the many initiatives that have brought them so much success. I look forward to working with the talented teams to evolve the business over the coming years."
Outside the City Pub Group acquisition, the pub operator has also invested £84.5m into its estate, through £36.5m on eight individual acquisitions and £48m invested in existing pubs.
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