Young & Co's Brewery Plc is proposing a final dividend in respect of the period ended 1 April 2024 of 10.88 pence per share at a cost of £6.8 million, resulting in a total dividend for the year of 21.76 pence, up 6.0%. If approved, it is expected to be paid on 2 August 2024 to shareholders who are on the register of members at the close of business on 5 July 2024.
Other Financial Highlights Include:
- Total revenue on a comparable 52-week basis up 7.4% to £388.8 million and on a like-for like 52-week basis was up 3.4% against strong results in 2023, in line with historical trends
- Adjusted EBITDA up 7.8% to £92.2 million; managed house adjusted EBITDA for the period up 7.1% to £112.7 million
- Adjusted operating profit up 9.4% to £57.3 million, with a sector leading margin of 14.7%, up 50 bps on last year
- Adjusted profit before tax growth of 9.3% to a record £49.4 million for the period, despite the impact of continued cost inflation, demonstrating the strength of Young's proven strategy
- Completed the acquisition of The City Pub Group on 4th March, with the integration progressing as planned. The acquisition contributed £7.2 million revenue and EBITDA of £1.7 million for the 4 weeks of ownership in the period
- Strong balance sheet and cash generation supported £84.5 million of investment in the Young's estate, including £36.5 million on eight individual acquisitions and £48.0 million invested in existing pubs
- Managed house revenue for the last 9 weeks was ahead of last year by 24.4% including City Pub Group; and up by 2.4% on a like-for-like basis
