Brewer and pub operator Young and Co's Brewery has reported a 3.8% slip in full-year own-brewed beer volumes.
The decline, which the company said was better than the industry average of 4.9%, was due to a “demanding” trading environment, higher raw material and utility costs and the impact of poor summer weather on lager sales.
The brewing side of the business contributed £1.9m to the company’s adjusted pre-tax profit of £19.2m for the year to 28 March. Group sales rose 3.2% to £126.1m.
“We have a cash-generative business, well-invested estate, great pubs in great locations, robust balance sheet and a very strong brand,” said CEO Stephen Goodyear.
“Along with a dedicated team, we are well positioned to meet the challenges of the year ahead.”