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Young's eyes up future expansion
Young's, the pub operator and brewing company, has revealed that it is "well-placed" for future acquisitions.
The London-based company reported a 3.3 per cent increase in sales in its managed houses and said that it had continued to maintain its premium offering despite the effects of the recession. Christopher Sandland, Young's chair, said: "While we continue to be mindful of the broader economic outlook, we are encouraged by the resilience of the business to continuing difficult economic conditions.
"We have the resources to take advantage of opportunities to acquire additional pubs that meet our requirements and we have confidence that our strategy and our brand provide the best possible platform for further growth when conditions improve." The comments come despite Young's reporting stagnant like-for-like sales - up just 0.1 per cent during the 15 weeks to 11 July 2009.
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