Young’s aims to add up to ten pubs a year as profits rise
Young’s is targeting growth of up to ten pubs a year after the £29.1m acquisition of Cubitt House. Chief executive Simon Dodd said the group would grow sensibly by five to ten pubs annually, mainly in London, and would keep the Cubitt House identity as it expands. The deal added eight trading London pubs and a ninth site is under development. Dodd expects the Cubitt brand to reach around ten pubs by the end of the current financial year, with a further five added over the next 12 to 18 months through acquisitions or conversions. A Duke of Connaught in Belgravia is due to open in early 2027, and the Phoenix in Chelsea will become a Cubitt House pub. Like-for-like sales rose 6.4% in the 26 weeks to 28 September 2026, with adjusted PBT up 19.3% to £37.1m and total PBT up 9.2% to £33.4m. The first 32 weeks showed like-for-like growth of about 6.2%. The period benefited from warm weather and the World Cup, which added around £6.8m to food and drink sales, including about £4.8m on England match days. Drinks rose 11.7%, with lager among the best performers. Premium drinks were in demand, with spritz sales at £11m and rosé and sparkling wine up 5% and 10%. Food sales climbed 8.7% to £82.2m, with burgers up 15.5% and fish and chips 10.7%. Accommodation revenue rose 6.6% to £19.1m, and Young’s plans a bedroom loyalty scheme, You & Young’s, to attract around 15,000 members and push direct bookings from 62% to about 70%. Source: The Morning Advertiser
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