London pub company Young’s today became the third major player in the sector this week to reveal double digit sales growth over Christmas after the capital’s drinkers and diners celebrated the festive season in style.
The 194 year old Wandsworth based pub operator said it had traded “exceptionally well” during the 15 weeks to 13 January with like for like sales up 11.6%. Sales over Christmas Eve, Christmas Day and Boxing Day were 10.5% higher.
CEO Simon Dodd, said: “We are very pleased with our excellent trading over the festive period, which reflects the rigorous planning, commitment and enthusiasm of our teams across the business.
“We continued to break sales records across the period, delivering some of the highest daily sales in Young’s history. Our recent pub investments performed exceptionally well across the period.
“Looking ahead, whilst we remain mindful of the headwinds facing consumers and the wider issues that our industry will encounter from the increase in both National Insurance contributions and National Living Wage, our business is in great shape, and we continue to be optimistic about the year ahead.”
The strong numbers from Young’s follows a 10.2% rise in sales from rival London pub company Fuller’s, and a 10.4% rise from pub and restaurant operator Mitchells & Butlers, owner of chains including All Bar One. Harvester and Toby Carvery.
