Young & Co.'s Brewery plc Proposes Dividend for the Fifty Three Weeks Ended April 3, 2017, Payable on July 13, 2017; Announces Audited Group Earnings Results for the Fifty Three Weeks Ended April 3, 2017; Provides Effective Tax Rate Guidance for the Full Year of 2018
May 25, 2017 at 02:00 am EDT
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The board of Young & Co.'s Brewery plc announced that the board is proposing a final dividend in respect of the fifty three weeks ended April 3, 2017 of 9.62 pence per share. If approved, it is expected to be paid on 13 July 2017 to shareholders who are on the register of members at the close of business on 9 June 2017.
The company announced audited group earnings results for the fifty three weeks ended April 3, 2017. For the year, the company reported revenue of GBP 268.9 million compared to GBP 245.9 million a year ago. Operating profit before exceptional items was GBP 46.1 million compared to GBP 41.2 million a year ago. Operating profit was GBP 42.7 million compared to GBP 38.4 million a year ago. Profit before tax was GBP 37.0 million compared to GBP 32.8 million a year ago. Profit for the period attributable to shareholders of the parent company was GBP 30.0 million or 61.47 pence per 12.5 pence per ordinary share compared to GBP 26.6 million or 54.70 pence per 12.5 pence per ordinary share a year ago. Net cash flow from operating activities was GBP 55.9 million compared to GBP 52.6 million a year ago. Purchases of property, equipment and lease premiums were GBP 34.5 million compared to GBP 41.6 million a year ago. EBITDA was GBP 63.6 million compared to GBP 56.8 million a year ago. Adjusted EBITDA was GBP 66.5 million compared to GBP 58.4 million a year ago. Adjusted operating profit was GBP 46.1 million compared to GBP 41.2 million a year ago. Adjusted profit before tax was GBP 40.4 million compared to GBP 35.6 million a year ago. Adjusted earnings after tax were GBP 32.4 million or 66.39 pence per diluted share compared to GBP 28.4 million or 58.41 pence per diluted share a year ago.
For the full year of 2018, the company expects effective rate to decrease as the UK's headline corporation tax rate falls from 20% to 19%.
Young & Co.'s Brewery, P.L.C. is a United Kingdom-based company that operates pubs and hotels. The Company operates through the managed houses segment. The managed houses segment operates pubs, which includes sales of drink, food, and accommodation. The Company also operates tenanted houses. The Company manages, acquires, and invests in premium, differentiated pubs and hotels in various locations in London and the south of England. The Companyâs hotels are a collection of traditional pubs with boutique bedrooms across the United Kingdom. Its hotels include Alexander Pope, Bedford Arms, Brewers Inn, Brook Green Hotel, Bulls Head, Carnarvon Arms, Carpenterâs Arms, City Gate, Coach & Horses, Dog & Fox, Dukeâs Head, Dunstan House Inn, Fox & Anchor, Griffin Inn, Hortâs Townhouse, and others. Its pubs include Adam and Eve, Angel & Greyhound, and Bishopâs Vaults, among others. The Company also hosts public gatherings, such as parties, weddings, meetings, and group dining.
Young & Co.'s Brewery plc Proposes Dividend for the Fifty Three Weeks Ended April 3, 2017, Payable on July 13, 2017; Announces Audited Group Earnings Results for the Fifty Three Weeks Ended April 3, 2017; Provides Effective Tax Rate Guidance for the Full Year of 2018