Young & Co's Brewery PLC said yesterday that trading across the business in the first quarter has been encouraging, with beer volumes, sales and profits showing growth compared to the same period last year.

At the company's annual meeting, chairman John Young said better economic conditions and the positive benefits of operational changes implemented in previous years have been the key drivers of this growth and these have more than offset the additional legislative and regulatory costs placed on the business.

The chairman said: "We have seen only a very limited benefit to trade arising from the European Championships, and this occurred only on those days when England were actually playing."

"Looking ahead, we now move into a period where last year's trading was benefiting from the excellent summer weather. Nevertheless, we are confident that we are on track to deliver continued progress," Young concluded.