Latest news with #Young's
Scottish Sun
5 days ago
- Business
- Scottish Sun
Pub chain Young's sees profits rise by 25 per cent to over £70million
Young's boasts more than 800 hotel rooms as well as 277 pubs and bars CHEERS Pub chain Young's sees profits rise by 25 per cent to over £70million Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) PUB and hotel chain Young's is booming because Brits still want traditional boozers, its boss has told The Sun. Simon Dodds trumpeted a 25 per cent profit rise to £71.4million in the last 12 months for the near-200-year-old business. Sign up for Scottish Sun newsletter Sign up 4 Young's has seen profits rise to £71.4million in the last 12 months (pictured CEO Simon Dodds) Credit: Times Media Ltd The chief executive said: 'We have unique pubs which are the heart of the community and all our food is fresh and seasonal.' Founded in 1831, Young's boasts more than 800 hotel rooms as well as 277 pubs and bars. Mr Dodds said sticking to traditional ways of serving customers is helping the group to be a rare British hospitality success. He added: 'We're good at running pubs and good at running bedrooms.' Not that the business is living in the past. He went on: 'Our heritage is important but we're not standing still, we invest a lot in our pubs and invest a lot in our people.' He pointed to 80 per cent of its general managers having worked their way up within the firm. It also splashed out £41million in the year to March to keep pubs looking good. Revenue rose 24.9 per cent, from £388.8million to £485.8million. That was helped by an extra 50 pubs and more than 200 hotel rooms from the City Pub Group, which Young's bought for £162million in November 2023. Pint prices on the rise and Maccies axes beloved item Its dividend was also up 6 per cent, with the year's total 23.06p. The boss said: 'Everything within our control is going to plan.' IT'S DOC SMARTIN' PROFITS at British footwear and clothing firm Dr Martens fell to £8.8million in the year to the end of March. It continues the Northampton-based brand's woes since its stock market listing in 2021. 4 Profits at Dr Martens fell to £8.8million in the year to the end of March Credit: PA 4 The business blamed 'a challenging market' Credit: PA Profits dropped around 90 per cent from £93million in 2024, after sales fell 10 per cent in the year. The business blamed 'a challenging market' and warned unfavourable foreign exchange rates would hit sales and profits in the current financial year. It said hard-up Brits are looking for bargains, but it will not discount stock. IT'S A WISE MOVE FINTECH firm Wise is the latest business to ditch the London Stock Market and switch to New York. The £12billion money transfer firm said the move would 'bring substantial strategic and capital market benefits'. It follows a growing number of businesses choosing to list in the US. Paddy Power owner Flutter, mining group BHP, building materials group CRH and construction rental firm Ashtead have all made the change in recent years. Wise's share price climbed 6 per cent on the news. CHECKS IN POST... WATCHDOGS have launched a global crackdown on posts by illegal financial influencers. The UK's Financial Conduct Authority has joined regulators in Australia, Canada, Hong Kong, Italy and the UAE to tackle rogue promotions. Some social media personalities claim to have lavish lifestyles in videos to flog products or services illegally. Meanwhile, the Treasury Committee wants social media giant Meta to explain why it took up to six weeks to respond to FCA requests to take down dodgy posts. GROUND DOWN FOR WIZZ AIR BUDGET airline Wizz Air said having a fifth of its planes grounded over the last year has hit its profits. It was forced to mothball an average of 44 planes – almost a fifth of its entire fleet — over the year because of issues with the engines, which were made by Pratt & Whitney. 4 Jozsef Varadi, CEO of Wizz Air, who has seen profits fall to £141million Credit: Reuters The US aircraft-maker was forced to pay compensation last year over the grounding of Airbus A320neo planes. Profits for the year at Wizz Air fell two-thirds from £368.7million to £141million. But despite the 'significant challenges' it faced, the Hungarian airline said it was flying more passengers than ever. It carried a record 63.4million during the year, which helped revenues for the group edge up 3.8 per cent. The airline, led by chief exec József Váradi, did not provide a forecast for the year ahead owing to 'uncertainties'. That hit its share price, which dived more than a quarter yesterday. JOBS in construction have been cut at the fastest rate since 2020, but experts say 'the worst may have passed'. The S&P Global construction purchasing managers' index showed activity slowed in May for the fifth consecutive month. NEW CAR SALES UP THE new car market returned to growth last month as registrations increased by 1.6 per cent, figures show. There were some 150,070 new listings — up from 147,678 the year before — and marks the best May performance the market has seen since 2021. Registrations of pure battery- electric new cars rose by a quarter to take a market share of 21.8 per cent. It is partly down to manufacturers offering discounts to boost sales. Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club.
Sydney Morning Herald
04-05-2025
- Entertainment
- Sydney Morning Herald
Young's Wine Rooms
Contemporary$$$$ Straddling more than one street frontage, this converted auction house is busy and cavernous – a combination that could easily push the boundaries for those less inclined to a cacophonous room in which to dine. But with some clever sectioning into a series of neat nooks, and a tonal, terracotta-tinged fitout, the room is pleasantly subdued. Mediterranean influence runs deep in a menu that includes velvety whipped cod roe – pair it with pillowy potato bread – and a couple of chopped, garlicky Skull Island prawns atop a buttery twist of spaghettini. Hits from the grill include a tender octopus tentacle with seared corn and wilted chicory, and a subtly scorched charcoal chook with a fiery lick of harissa. A tangy passionfruit brulee cracks and yields in all the right ways, proving that a good thing, in the right hands, never gets old at Young's.
The Independent
30-04-2025
- Business
- The Independent
Pub group Young's toasts bumper sales year despite rising costs and poor weather
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.'
Evening Standard
30-04-2025
- Business
- Evening Standard
Pub group Young's toasts bumper sales year despite rising costs and poor weather
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.
Irish Independent
24-04-2025
- Business
- Irish Independent
Choice of opportunities in Ranelagh for sale and letting
The better known of the two is The Exchequer, a popular restaurant and wine bar, which is being offered to the lettings market. Joint agents Robert Colleran and Young's are quoting a rent of €100,000 per annum. Located at 19 Ranelagh, its total floor area extends to about 250 sq m over three floors including outdoor upstairs terraces. It has been fitted out to a high standard to include a large bar and double height restaurant area on the ground floor with a kitchen and beer garden at the rear. In addition, a back bar/private function room is supplemented with an external patio area, office and store rooms at first-floor level. Peter Rock, had operated The Exchequer for 15 years as a Spanish tapas casual restaurant for diners who enjoyed its extensive wine list, range of beers on draft and award-winning cocktails. On Sundays it attracted families for its Sunday roasts. The same agents are offering 15 Ranelagh for sale for around €1m. Formerly known as Rita's restaurant, this extends to about 200 sq m over two floors. The unit has been stripped back to shell and core condition by the landlord so this would enable a purchaser to fit it out for a wide range of potential uses or tenants, including residential.
