Young & Co's Brewery Non VTG (YNGN)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM 50

622.00p
   
  • Change Today:
    -6.00p
  • 52 Week High: 850.00
  • 52 Week Low: 592.00
  • Currency: UK Pounds
  • Shares Issued: 24.07m
  • Volume: 24,538
  • Market Cap: £149.72m
  • RiskGrade: 192
  • Beta: 0.48

Young's to buy City Pub Group in £162m deal

By Michele Maatouk

Date: Thursday 16 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Young & Co's Brewery said on Thursday that it has agreed to buy City Pub Group for around £162m.
Under the terms of the deal, City Pub shareholders will receive 108.75p a share in cash and 0.032658 Young's shares.

Young's chief executive Simon Dodd said: "City Pubs is an excellent business we have followed for some time, and one which aligns closely with Young's in terms of both strategy and culture. Like us, City Pubs operates premium, individual and well-invested pubs and rooms, with a focus on the highest standards of customer service. Both businesses have performed well in a tough trading environment recently, testament to the strength of our business models, people and approach to customers.

"We believe that City Pubs is an excellent fit with Young's and the combination of the two businesses represents a compelling opportunity for all stakeholders. It will allow us to expand our estate through the addition of a complementary, high-quality pub and bedroom portfolio, with the potential for the benefit of significant operational synergies to be realised by both sets of shareholders, through the partial share offer."

News of the acquisition came alongside Young's interim results, which revealed a record performance.

In the 26 weeks to 2 October, adjusted pre-tax profit rose 12% to £28m on revenue of £196.5m, up 5.4% on the same period a year earlier.

Young's said the period was a "tale of two halves", as sunny weather in June gave way to unfavourable weather in the core summer months of July and August.

Most recently, the pub chain said it was boosted by the hot weather in September and the start of the Rugby World Cup.

Young's lifted its dividend by 6% to 10.88p a share.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

YNGN Market Data

Currency UK Pounds
Share Price 622.00p
Change Today -6.00p
% Change -0.96 %
52 Week High 850.00
52 Week Low 592.00
Volume 24,538
Shares Issued 24.07m
Market Cap £149.72m
Beta 0.48
RiskGrade 192

YNGN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
5.11% above the market average5.11% above the market average5.11% above the market average5.11% above the market average5.11% above the market average
20.75% below the sector average20.75% below the sector average20.75% below the sector average20.75% below the sector average20.75% below the sector average
Income Not Available
Growth Not Available

YNGN Dividends

  Latest Previous
  Final Interim
Ex-Div 04-Jul-24 23-Nov-23
Paid 02-Aug-24 08-Dec-23
Amount 10.88p 10.88p

Trades for 08-Nov-2024

Time Volume / Share Price
16:35 82 @ 622.00p
16:35 1 @ 622.00p
16:35 19 @ 622.00p
16:35 42 @ 622.00p
16:35 11 @ 622.00p

YNGN Key Personnel

CEO Simon Dodd
CFO Mike Owen

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