Patrick Dardis at the newly acquired Smith's of Smithfield pub
The pub operator’s ‘Great Hop Expedition’ has led to a 28.3% rise in keg ale sales over the past six months, as total revenues soared.
Young’s pubs saw total revenue rise 6% to £144.1m during the six months ended 2 Oct, boosted by a surge in craft beer and cocktail sales.
The group also launched a new cocktail menu (Cocktail Collective) which saw cocktail sales increase by a whopping 56.1% on the same period last year.
Wine sales also rose by 31.9%. Overall, drink sales were up 7.5% in total and 4.6% on a like-for-like basis during the period.
Patrick Dardis, chief executive of Young’s, said: “We are very pleased with our excellent performance during the period, which once again underlines the strength and effectiveness of a consistent, premium strategy and customer-focussed approach.
“The pub is still the go-to place in Britain for drinking and eating out and, while much has been written about the challenges facing the pub industry, we believe that providing customers with well-invested pubs, a quality offer and outstanding customer service is key to our success.
“Despite the continuing unpredictability of our trading environment, we have made a strong start to the second half of the year. We are delighted to have acquired the iconic ‘SMITHS’ of Smithfield, which sits in the heart of the City, as well as its sister venue in Cannon Street, since the period end.
“Both sites are a fantastic fit with our portfolio of premium managed sites, with their focus on world class steaks, breakfasts, craft beer and quality drinks and we are very excited about the potential for us to build upon their existing offer going forward.”
“Our expectations for the full year remain unchanged and we are confident about our long-term prospects thanks to our premium offer, well-invested and prime located pubs, and the talented teams we have in place across our business.”
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