(Reuters) -British pub operator Young & Co’s Brewery on Wednesday reported 7% like-for-like sales growth for the first 14 weeks of its financial year, as warm spring and early summer helped support demand for its beverages and food.
Britain, along with the rest of Europe, is seeing a rapid rise in temperatures, driving people to watering holes such as the 277 pubs that Young & Co’s operates across the south of England.
“We remain confident about the year ahead, despite the well-publicised challenges faced by our industry,” the company said in a brief trading statement.
Companies across the country have warned of an increase in labour costs related to a rise in employers’ social security contributions and minimum wages following Finance Minister Rachel Reeves’ maiden budget last year.
Young & Co’s had previously forecast an 11 million pound ($14.9 million) rise in annual costs from the wage increases starting in April.
($1 = 0.7362 pounds)
(Reporting by Unnamalai L in Bengaluru; editing by Eileen Soreng)
