Highlights
- Total revenue rose 5.4% to GBP 263.6 million, with adjusted EBITDA up 5.9% to GBP 62.5 million.
- Adjusted profit before tax increased by 9.9% to GBP 31.1 million.
- A GBP 10 million share buyback programme and a 6% increase in the interim dividend were announced.
Young & Co.’s Brewery P.L.C. (LSE:YNGA) has reported a record half-year performance for the 26 weeks ended 29 September 2025, supported by robust trading across its premium pub estate and favourable summer conditions. Alongside financial results, the company has announced a GBP 10 million share buyback programme, signalling continued confidence in its long-term growth strategy.
Record Interim Performance
Young & Co.’s Brewery achieved a record interim performance, driven by like-for-like sales growth of 5.7% across its premium estate. The combination of strong trading in late spring and early summer, coupled with consistent investment in its pubs, contributed to the rise in total revenue to GBP 263.6 million. Adjusted EBITDA reached GBP 62.5 million, marking a 5.9% increase on the prior year.
Adjusted profit before tax rose by 9.9% to GBP 31.1 million, reflecting the company’s ability to convert top-line growth into profitability despite pressures from rising employment and food costs. Earnings per share increased 8.5% to 34.95 pence, supported by a return to earnings growth following previous equity issues linked to post-pandemic investments and the City Pub Group acquisition.
Investment and Debt Reduction
During the period, Young’s invested GBP 12.6 million across its estate to enhance long-term operational performance. The company reported a GBP 26.5 million reduction in net debt, bringing the total to GBP 221.8 million (excluding leases). Including lease liabilities, net debt stood at GBP 308.5 million.
The net debt-to-EBITDA ratio fell to 2.0 times, or 2.6 times including leases—both within the company’s target range of 2.0x to 3.0x. Young’s also confirmed debt headroom of GBP 113.2 million at the half-year point, providing flexibility for future investment.
In line with its capital allocation framework, the Board announced a GBP 10 million share buyback programme and a 6% increase in the interim dividend to 12.22 pence per share.
Steady Trading and Positive Outlook
Trading in the early weeks of the second half has continued in line with expectations, with total sales up 4.4% and like-for-like sales up 4.2%. The company noted Christmas booking momentum, with pre-booked sales 22% ahead of the same period last year.
Young’s will maintain a measured investment approach, balancing debt reduction with its strategy of operating a premium and individually managed pub portfolio. Recently refurbished sites, including Home Cottage in Redhill, Victoria in Surbiton, and Westgate in Winchester, have reopened ahead of the key festive season.
While management remains mindful of cost pressures and the potential impact of transport disruptions, Young’s continues to focus on enhancing its estate and maximising returns from the City Pub acquisition. The company stated that it remains confident in its long-term growth trajectory within the managed pub and accommodation market.