Results, finance, appointments, capital schemes, and more. News in brief from brewers, venue owners, and other hospitality businesses.
Young’s is commencing a new shareback programme of its A ordinary and non-voting ordinary shares. This follows the renewal of its share buyback authorities at this week’s annual meeting.
The purpose of the programme is to reduce the company’s share capital, and to meet obligations arising from the company’s share option programmes.
The programme will continue to principally focus on purchasing the company’s non-voting ordinary shares. However, it will also purchase the company’s A ordinary shares where liquidity in the non-voting shares is limited.
All non-voting ordinary shares purchased by the company under the share buyback programme will be cancelled, while the A ordinary shares purchased will be held in treasury to meet obligations arising from share option programmes or otherwise cancelled.
• UKHospitality Cymru has called on the new Welsh government to reduce business rates for hospitality, which would represent swift delivery of its manifesto commitment.
Plaid Cymru committed to cutting business taxes for hospitality businesses in its manifesto, with UKHospitality Cymru recommending reforming or replacing business rates to achieve a permanent, lower rate for hospitality businesses.
“It would be an early signal from the new Welsh government that it backs our pubs, cafes, restaurants, and hotels, and would speedily deliver one of its manifesto commitments,” said David Chapman, Executive Director of UKHospitality Cymru.
“The broken business rates system is a hospitality-wide solution that needs a hospitality-wide problem. Whether it’s the local pub, the seaside family hotel, or the neighbourhood restaurant, they’re all major local employers, drivers of growth, and hubs of our communities that are drowning in costs and in need of lower business rates.”
• Turnover at Mash Inns rose from £2,249,000 to £2,351,000 in the year ending 30th September, 2025. Pre-tax profit grew to £253,000. The company is a joint venture between Stonegate and Laine Pub Co.
• Elliott Partners, well known as an activist investor in other sectors, is said to be mulling a bid for some 300 pubs being put on the market by Stonegate. The bid is being led by Elliott’s private equity investment team, Sky News reports.
