Young's brews up plan to stay smart
Young's, brewer of one of London's favourite pints, today said its pubs will stick to the smarter end of the drinking trade in a bid to see off the worst effects of the recession in the capital's saloon bars.
Young's: The brewer is sticking to the premium end of the market
The group said operating profits were flat at £12m in the six months to the end of September. Like-for-like sales in the last seven weeks fell 3.3%.
'We have had to deal with huge costs increases in food, utilities and wages but we are also seeing the benefits of fixing the roof while the sun was shining,' said chief executive Steve Goodyear.
'What we have done is reinvested the proceeds from the sale of the Ram Brewery in Wandsworth into our estate, enabling us to attract customers by firmly staying at the premium end of the market.'
Goodyear plans to get food up to 35% of sales from the current 25%. The interim dividend rises 2% to 6.12p.
Most watched Money videos
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Paul McCartney's psychedelic Wings 1972 double-decker tour bus
- Mini unveil an electrified version of their popular Countryman
- Iconic Dodge Charger goes electric as company unveils its Daytona
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Dacia Spring is Britain's cheapest EV at under £15,000
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- German car giant BMW has released the X2 and it has gone electric!
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- Mail Online takes a tour of Gatwick's modern EV charging station
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- BUSINESS LIVE: Retail sales stagnate; 888 revenues beat...
- Why is bitcoin halving this weekend? How the event could...
- 888 shares rise as William Hill owner posts...
- As record 2.8m sign off as long-term sick, work-shy UK...
- Mondi pulls out of potential bidding war to buy rival...
- MARKET REPORT: Bruising week for FTSE amid Middle East fears
- US and Europe are at odds and threat of a disastrous end...
- Creators of key interest rate benchmark criticise courts...
- Unilever waters down targets on plastic packaging,...
- INVESTING EXPLAINED: What you need to know about cocoa...
- With cosmetics shares priced low, is now the time to...
- SHARE OF THE WEEK: Wall Street investors looking for...
- Retail sales ground to a halt last month as shoppers...
- L'Oreal posts better than expected sales as demand for...
- Volvo's screen folly: New EX30 compact crossover lacks a...
- Wall Street pins hopes on a set of upbeat results from...
- MARKET REPORT: Airlines soar as Easyjet eyes a record summer
- G7 fights for Ukraine cash as Russia's economy booms -...