LONDON (ShareCast) - British pub chain, Young & Co, hailed a 26.2% rise in adjusted first-half pre-tax profit, driven by investment in operations and increased sales after a long, warm summer.
Pre-tax profit for the 26 week period ended 29 September rose to £18.4m from £14.9m in the same period last year. Revenue also increased 7.8% to £116.6m from £108.2m.

Young & Co said that many of its pubs have attractive beer gardens, which benefited sales during the long, warm summer.

Moreover, the firm attributed its growth in profits following the firm's recent investment in pubs and hotels "in a range of great locations, with a premium food and drink offering".

Following the positive results, Young & Co declared a 6% increase in its interim dividend to 7.90p per share.

As of 11:20 on Thursday, the firm's share price rose 6.08% to 1,042p per share.

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