Young’s says heart of London is back to business as city pub sales rise 11%

Thursday, November 10, 2022 8:48 a.m.

Pub operator Young’s said its Square Mile sites are teeming with office workers and tourists, as it declares central London to be in business.

Sales in the city – which has seen hospitality venues hit hard by work-from-home trends and Covid shutdowns in recent years – are up 11.1% from a year ago, Young revealed. .

In half-year results, the London-listed business posted adjusted profit of £45m, up 5% from the same six-month period in 2021. Sales had risen by just under a quarter to reach £186.5million, surpassing pre-pandemic levels.

After many office workers were slow to return to their desks in the capital for most of the week, the “swing” was now in favor of office work, said Young’s boss Simon Dodd. CityA.M.

“Real trust” was beginning to return to the city, with the capital still highly regarded as the “heart” of the operator, he added.

Sallie R. Loera