The Oyster Shed, a pub owned by Young’s, has achieved the highest single-day sales of any venue in the company’s nearly 200-year history, with takings of £91,000 on a sunny Thursday in April.
Jeremy Clarkson, a well-known TV presenter, played a role in the pub’s success through his Hawkstone Lager brand, which contributed to the strong sales of the pub.
The pub, located on the banks of the Thames, sold around 11,000 pints based on an average £8 pint price.
This equates to an annual turnover of over £30m if the pub had similar takings every day.
Young’s chief executive Simon Dodd marked the occasion with a visit to the pub, where he discussed the company’s corporate results.
He noted that consumers’ tastes are changing, with a preference for a premium experience and a willingness to pay more for it.
Simon Dodd said, “One thing’s for sure, when the sun comes out, consumers come out and our numbers jump dramatically.”
Young’s has seen an 8 per cent year-on-year increase in demand for beer and a 16 per cent increase in sales of cocktails, driven by brands such as Jubel Peach and Hawkstone Lager.
They have also seen success with Asahi, another popular beer among their customers.
The company has set a medium-term target of growing its nationwide estate to 350 pubs, up from around 280 currently, and has made several acquisitions in recent years, including the £162m purchase of City Pub Group in 2023.
Young’s has increased its dividend by 6 per cent after posting a “record year” with sales above £500m for the first time, with turnover rising 4.6 per cent to £508.2m for the year to end March, while pre-tax profit surged to £41.1m.
Expansion Plans
Young’s plans to expand its operations in London, with a focus on growing its estate to 350 pubs as part of its strategy to increase its presence in the UK pub market, where it is well-positioned for future growth due to the potential for a war to impact the economy.
Financial Performance
The company’s financial performance has been strong, with a 4.6 per cent rise in turnover and a surge in pre-tax profit, driven by the success of its pubs, including the Oyster Shed, which offer a range of drinks, including beer and cocktails.
It has a diverse portfolio of pubs across the UK, and its strategy of offering a premium experience and a range of drinks has helped to drive sales and profits.
Market Trends
The UK pub market is experiencing a shift in consumer preferences, with a focus on premium experiences and a willingness to pay more, driving sales and profits for companies like Young’s.
Young’s is well-positioned to take advantage of this trend, with its focus on offering a range of drinks and a premium experience, making its pubs, including the Oyster Shed, popular destinations for consumers looking for a high-quality experience.