Young's eyes a main market listing after 'exceptional' Christmas
Young & Co’s Brewery has revealed plans to move to a main market listing after an 'exceptional' Christmas trading period. The business, currently listed on the Alternative Investment Market, said like-for-like sales in the three weeks to 5 January rose by 11.2 per cent, 'against a very strong prior year comparator.' Trading on Christmas Eve, Christmas Day and Boxing Day was 'particularly good', with like-for-like sales up 12.3 per cent compared to the previous year.Young's said its admission to the London Stock Exchange's Main Market would be fitting as it had 'grown considerably both in size and performance in recent years, as further evidenced by today's update on trading.' It expects to be admitted to the Main Market in the second quarter of 2026, at which point its listing on Aim would be cancelled. It does not require shareholder approval. Bumper sales: Young & Co’s Brewery said it enjoyed an 'exceptional' Christmas trading periodYoung's shares rose 0.99 per cent or 8.00p to 820.00p on Thursday, having risen around 4 per cent in the last year. The chain said its City Pub Group estate saw sales rise by 26 per cent on Christmas and Boxing Day. Young's first announced plans to acquire City Pub Group in 2023. Total managed revenue for the 14 weeks ending 5 January rose 5.6 per cent, and 5.7 per cent on a like-for-like basis. Simon Dodd, chief executive of Young's, said: 'During the six weeks of the festive period, we recorded our highest ever sales in one day, setting multiple daily and weekly records across our estate.' He added: 'Young’s remains well-positioned to withstand the well-publicised headwinds facing our sector.' Pubs will be the only businesses to benefit from Labour's business rates U-turn as other hospitality firms will be shut out from tax relief, Rachel Reeves hinted this week.The Chancellor told reporters at Davos that pubs face a different situation to the rest of the sector, likely meaning hotels and other hospitality businesses will be given a cold shoulder by the Treasury.Pub chains have cheered strong Christmas trading with Wetherspoons toasting 8.8 per cent growth in sales in the three weeks to 4 January. But it warned profits would take a hit as business rates, labour and energy costs had soared by £45million. DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Young's eyes a main market listing after 'exceptional' Christmas
