logo
Pub group Young's toasts bumper sales year despite rising costs and poor weather

Pub group Young's toasts bumper sales year despite rising costs and poor weather

Independent30-04-2025

Pub group Young's has reported rising annual sales despite a year of 'prolonged economic uncertainty' and volatile weather.
The company said like-for-like sales rose 5.7% in the year to March 31, defying what it said were 'widespread challenges' for the sector.
Pubs and retailers were still struggling with higher-than-usual inflation for some of last year, while more recently they were hit by rising employment costs from policies in the October Budget.
Young's has previously said a rise in national insurance contributions (Nics) would cost it about £11 million extra per year, starting in April.
But it also enjoyed a bump in sales from the Euros football tournament over the summer, and a boost from its £162 million takeover of rival City Pub Group in late 2023, which brought a further 50 pubs into the Young's business.
And it previously toasted bumper trade over Christmas and new year, with sales across the festive period up 10.5% year-on-year.
Chief executive Simon Dodd said: 'We achieved a huge amount during the past financial year, and I am extremely pleased with this performance.
'We delivered it against a challenging backdrop, which was characterised by unpredictable British weather and prolonged economic uncertainty driven by political turbulence through the year.
'Our performance demonstrates the strength and resilience of our premium estate, coupled with the work of our phenomenal teams.
'Together, these factors have enabled our business to continue to thrive and we remain confident in our ability to deliver profitable growth.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Spending review is ‘settled', says Downing Street
Spending review is ‘settled', says Downing Street

Rhyl Journal

time29 minutes ago

  • Rhyl Journal

Spending review is ‘settled', says Downing Street

Chancellor Rachel Reeves is expected to announce funding increases for the NHS, schools and defence along with a number of infrastructure projects on Wednesday, as she shares out some £113 billion freed up by looser borrowing rules. But other areas could face cuts as she seeks to balance manifesto commitments with more recent pledges, such as a hike in defence spending, while meeting her fiscal rules that promise to match day-to-day spending with revenues. On Monday morning, Home Secretary Yvette Cooper was the last minister still to reach a deal with the Treasury, with reports suggesting greater police spending would mean a squeeze on other areas of her department's budget. Speaking to reporters on Monday afternoon, the Prime Minister's official spokesman said: 'The spending review is settled, we will be focused on investing in Britain's renewal so that all working people are better off. 'The first job of the Government was to stabilise the British economy and the public finances, and now we move into a new chapter to deliver the promise and change.' The Government has committed to spend 2.5% of gross domestic product on defence from April 2027, with a goal of increasing that to 3% over the next parliament – a timetable which could stretch to 2034. Ms Reeves' plans will also include an £86 billion package for science and technology research and development. Last week the Chancellor admitted that she had been forced to turn down requests for funding for projects she would have wanted to back, amid the Whitehall spending wrangling. Mayor of London Sir Sadiq Khan's office is concerned that Wednesday's announcement will include no new funding or projects for London. The mayor had been looking to secure extensions to the Docklands Light Railway and Bakerloo line on the Underground, along with the power to introduce a tourist levy and a substantial increase in funding for the Metropolitan Police. A source close to the mayor said on Monday that ministers 'must not return to the damaging, anti-London approach of the last government', adding this would harm both London's public services and 'jobs and growth across the country'. They said: 'Sadiq will always stand up for London and has been clear it would be unacceptable if there are no major infrastructure projects for London announced in the spending review and the Met doesn't get the funding it needs. 'We need backing for London as a global city that's pro-business, safe and well-connected.'

Nato chief says UK's defence spending plans not at odds with 5% goal
Nato chief says UK's defence spending plans not at odds with 5% goal

North Wales Chronicle

time30 minutes ago

  • North Wales Chronicle

Nato chief says UK's defence spending plans not at odds with 5% goal

The Nato chief would not reveal the deadline for when he hopes Nato allies will reach the target as he spoke at London's Chatham House. He said he had a 'clear view' on when he thinks countries should get there but said he would keep it to himself. Countries that do not ramp up defence spending should 'learn to speak Russian', he said. He had earlier commended the UK for plans unveiled in the strategic defence review last week as he met Sir Keir Starmer at Downing Street on Monday. Mr Rutte said the UK's goals to spend 2.5% on defence from April 2027 and then aim to get to 3% over the next parliament were not at odds with his own proposed target for the bloc. He has proposed members of the bloc spend 5% of gross domestic product (GDP) on defence as part of a strengthened investment plan for the alliance. The target would require nations to raise core defence spending to 3.5% of GDP, while the remaining 1.5% is to be made up of 'defence-related expenditure'. He said every country is 'working in cycles' and that he was 'really impressed' with the UK's plans under the strategic defence review unveiled last week. 'I've seen sometimes in the British press that there is the defence review and now there is this proposal I made about the 5%, the 3.5% core and 1.5% defence and security-related spending. 'So then people are saying 'hey there is discrepancy', I don't think there is. Why not? Because every country is working in cycles to constantly update its own defence strategy.' He said it was not up to him to decide how countries get there, when asked if he believed Chancellor Rachel Reeves should raise taxes to meet defence spending commitments. 'I mean, what I know is that if we want to keep our societies safe… look, if you do not do this, if you would not go to the 5%, including the 3.5% core defence spending, you could still have the National Health Service, or in other countries their health systems, the pension system, etcetera, but you had better learn to speak Russian.' The upcoming Nato summit would focus on a 'credible path' to get to the 'longer-term goal' of reaching 5%, he said. The 5% goal is not 'some figure plucked from the air', he said. 'The fact is we need a quantum leap in our defence. The fact is we must have more forces and capability to implement our defence plans in full.' While he said the 'exact details are classified', Mr Rutte said there needed to be a 400% increase in air and missile defence. He said Russia could be ready to use force against Nato within five years. 'The new generation of Russian missiles travel at many times the speed of sound. The distance between European capitals is only a matter of minutes. There is no longer east or west. There is just Nato.' As he met with Sir Keir in the White Room of No 10, he commended the Prime Minister on the 'very good stuff' in the defence review. 'It is not only about the traditional things, of course we need them, like ammunition… there is also drones, innovation, building the defence industrial base. It is really broad, it is really making a big impression in Brussels I can tell you,' he said. Sir Keir called Nato the 'cornerstone of our defence' and the 'most effective military alliance the world has ever seen', adding that the task of the upcoming summit was to make sure it serves that purpose for decades to come. Sir Keir also spoke to German Chancellor Friedrich Merz on Monday and the two leaders welcomed efforts by Nato allies to step up defence spending as well as Mr Rutte's suggestions to further boost it, a Downing Street spokeswoman said. The boost to the defence budget announced last week will be confirmed by Chancellor Rachel Reeves in her spending review on Wednesday, when she will set out the Government's priorities for the next three years.

Nato chief says UK's defence spending plans not at odds with 5% goal
Nato chief says UK's defence spending plans not at odds with 5% goal

Leader Live

time32 minutes ago

  • Leader Live

Nato chief says UK's defence spending plans not at odds with 5% goal

The Nato chief would not reveal the deadline for when he hopes Nato allies will reach the target as he spoke at London's Chatham House. He said he had a 'clear view' on when he thinks countries should get there but said he would keep it to himself. Countries that do not ramp up defence spending should 'learn to speak Russian', he said. He had earlier commended the UK for plans unveiled in the strategic defence review last week as he met Sir Keir Starmer at Downing Street on Monday. Mr Rutte said the UK's goals to spend 2.5% on defence from April 2027 and then aim to get to 3% over the next parliament were not at odds with his own proposed target for the bloc. He has proposed members of the bloc spend 5% of gross domestic product (GDP) on defence as part of a strengthened investment plan for the alliance. The target would require nations to raise core defence spending to 3.5% of GDP, while the remaining 1.5% is to be made up of 'defence-related expenditure'. He said every country is 'working in cycles' and that he was 'really impressed' with the UK's plans under the strategic defence review unveiled last week. 'I've seen sometimes in the British press that there is the defence review and now there is this proposal I made about the 5%, the 3.5% core and 1.5% defence and security-related spending. 'So then people are saying 'hey there is discrepancy', I don't think there is. Why not? Because every country is working in cycles to constantly update its own defence strategy.' He said it was not up to him to decide how countries get there, when asked if he believed Chancellor Rachel Reeves should raise taxes to meet defence spending commitments. 'I mean, what I know is that if we want to keep our societies safe… look, if you do not do this, if you would not go to the 5%, including the 3.5% core defence spending, you could still have the National Health Service, or in other countries their health systems, the pension system, etcetera, but you had better learn to speak Russian.' The upcoming Nato summit would focus on a 'credible path' to get to the 'longer-term goal' of reaching 5%, he said. The 5% goal is not 'some figure plucked from the air', he said. 'The fact is we need a quantum leap in our defence. The fact is we must have more forces and capability to implement our defence plans in full.' While he said the 'exact details are classified', Mr Rutte said there needed to be a 400% increase in air and missile defence. He said Russia could be ready to use force against Nato within five years. 'The new generation of Russian missiles travel at many times the speed of sound. The distance between European capitals is only a matter of minutes. There is no longer east or west. There is just Nato.' As he met with Sir Keir in the White Room of No 10, he commended the Prime Minister on the 'very good stuff' in the defence review. 'It is not only about the traditional things, of course we need them, like ammunition… there is also drones, innovation, building the defence industrial base. It is really broad, it is really making a big impression in Brussels I can tell you,' he said. Sir Keir called Nato the 'cornerstone of our defence' and the 'most effective military alliance the world has ever seen', adding that the task of the upcoming summit was to make sure it serves that purpose for decades to come. Sir Keir also spoke to German Chancellor Friedrich Merz on Monday and the two leaders welcomed efforts by Nato allies to step up defence spending as well as Mr Rutte's suggestions to further boost it, a Downing Street spokeswoman said. The boost to the defence budget announced last week will be confirmed by Chancellor Rachel Reeves in her spending review on Wednesday, when she will set out the Government's priorities for the next three years.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store