Young & Co's Brewery has reported Steve Goodyear will stand down as non-executive chairman and retire from the board following the company's AGM in July 2024.
Brief
- YOUNG & CO'S BREWERY - STEVE GOODYEAR TO STAND DOWN NON-EXECUTIVE CHAIRMAN, WILL RETIRE FROM BOARD FOLLOWING COMPANY'S AGM IN JULY 2024
- YOUNG & CO'S BREWERY - STEVE COOKE WILL SUCCEED AS NON-EXECUTIVE CHAIRMAN
Cocktails And Rosé Fans Help Pub Group Fullers Bounce Back
The above news follows news from earlier this month that Fuller, Smith & Turner hiked its annual dividend by 30% on Thursday 15 June as strong sales of cocktails and rosé wine helped the British pubs group continue its recovery from the pandemic, despite a hit from transport strikes and high inflation.
"I am more optimistic about the future than I have been since before the pandemic. While the well-documented inflationary environment has been a challenge, there are positive signs on the horizon," CEO Simon Emeny said in a statement.
Resilient customer spending has helped the UK hospitality industry pass on rising costs, but business was disrupted by widespread strikes at the end of 2022 and early this year.
Train and tube strikes hit particularly hard in central London, where many of Fullers pubs are located. It estimated the disruption lopped more than £5 million off sales in the financial year ended 1 April.
Fullers reported a 76% rise in adjusted profit before tax to £12.7 million, but that was still below 2019 levels.
Shares in the company, which have gained almost 15% so far this year, were up 1% in morning trade on Thursday 15 June.
Read More: Cocktails And Rosé Fans Help Pub Group Fullers Bounce Back
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