Pub group Young’s said it has been given a boost by the Fifa World Cup and Wimbledon Championships despite “challenges” facing the industry. <\/p>\n
Young & Co’s Brewery, which runs pubs and hotel rooms in London and the south-east of England, also hailed sunny weather for filling out its pub gardens. <\/p>\n
Sales over the 14 weeks from March 31 were 9.4% higher than the same period a year ago. <\/p>\n
This slows to 5.5% when compared on a like-for-like basis, which strips out the impact of new venues. <\/p>\n
Young’s said its financial performance was boosted by “exceptional” trading over the late May bank holiday weekend, particularly in pubs with gardens or in riverside locations. <\/p>\n
The start of the Fifa World Cup also delivered an uplift for the pub group, which said it has benefited from extended opening hours for later England matches, with some venues open late into the night on Sunday for supporters. <\/p>\n
The Wimbledon Championships has helped reel in visitors in recent weeks, with the pub chain operating a string of venues in the area. <\/p>\n
Simon Dodd, Young’s chief executive, said its pubs were “performing strongly in the first quarter” of the new financial year. <\/p>\n
“This was supported by favourable weather, a busy summer of sport, with England’s success in the World Cup so far, a welcome boost and contributions from our expanded estate, as we integrate the Cubitt House pubs.” <\/p>\n
Young’s recently acquired eight gastropubs and pubs with rooms from Cubitt House London Pubs. <\/p>\n
He added: “While the backdrop remains challenging, we are well-positioned and looking ahead to the rest of the year with confidence.” <\/p>\n
Many hospitality firms have been vocal about cost pressures facing the industry from the higher national minimum wage, increased national insurance contributions and other regulatory costs, as well as the recent increase in energy prices. <\/p>\n
The boss of rival pub chain Fuller’s recently blamed “government interference, additional taxes and regulations” for increased costs which he said “come with consequences” such as pub closures and reduced job opportunities. <\/p>\n","protected":false},"excerpt":{"rendered":"Pub group Young’s said it has been given a boost by the Fifa World Cup and Wimbledon Championships…\n","protected":false},"author":2,"featured_media":529249,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,241702,85,46,241703,233847,241701],"class_list":["post-529248","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-hotel-rooms-in-london","tag-il","tag-israel","tag-pub-group","tag-wimbledon-championships","tag-young-cos-brewery"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/529248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=529248"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/529248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/529249"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=529248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=529248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=529248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}