The UK brewer, Young & Co.'s Brewery, has said that trading during the first quarter of the current fiscal year was in line with expectations.

Speaking at the company's Annual General Meeting, chairman, John Young, said: "Continued economic uncertainty and rising costs have been offset by management action and the excellent summer weather in June. Re-organisation of the estate continues and since the year end we have moved a further 12 pubs from management to tenancy. We also continue to seek investment opportunities, but the prices currently prevailing in the market remain excessive."