Young & Co's Brewery Reports Increase in First Half Pretax Profit

Young & Co's Brewery has announced that its pretax profit for the first half of fiscal 2024 has risen, thanks to the hot weather in September and the start of the Rugby World Cup.

Financial Performance

For the six months ended Oct. 2, pretax profit reached 24.5 million pounds ($30.4 million), compared to GBP23.9 million during the same period last year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at GBP47.9 million, up from GBP45.0 million.

Revenue Growth

Young & Co's Brewery also saw a revenue growth of 5% to GBP196.5 million, with like-for-like sales surpassing prepandemic levels by 11%. This growth was primarily driven by strong performance in the drink and accommodation sectors.

Interim Dividend

The company's board declared an interim dividend of 10.88 pence, marking a significant increase from 10.26 pence and setting a new record for interim periods.

Positive Outlook

Despite ongoing cost pressures in the supply chain, Chief Executive Simon Dodd expressed confidence in the company's ability to navigate these challenges while maintaining industry-leading margins. Dodd also highlighted positive signs on the horizon, as cost pressures are gradually easing and stabilizing in certain areas.