The UK brewing company, Young & Co.'s Brewery, announced on July 15 that trading during the first quarter of the current fiscal year was in line with expectations. In a statement to shareholders ahead of its annual meeting, chairman John Young said continued economic uncertainty and rising costs had been "offset by management action" and the excellent summer weather in June.

The company is also relaunching its Young's Special ale after the successful relaunch of its popular Young's Bitter. Mr Young added, "We are confident that the continued implementation of our strategy and our focus on producing high-quality ales will give us the best possible platform to meet any challenges head on." Last month Young's said reduced tourism, job losses in the City and economic and political uncertainty had all contributed to tough trading conditions throughout the year.

17 July, 2003