Young’s to swap salmon and chicken for cheaper alternatives
Pub chain Young’s has said it is prepared to switch pricier menu staples for cheaper alternatives as inflation stands at a 40-year high.
Speaking to CityA.M., Young’s CEO Patrick Dardis said the company had switched salmon for fresh trout after steep price increases.
“Pork is cheaper than chicken and so we have the ability to flex menus on a daily basis,” he added.
The pub company was “cautious” about rising costs but was not currently planning to hike prices for customers “over and above what we normally would.”
“We are viewing inflation as a short term thing, we don’t believe it is sustainable,” he added.
The pub boss also called on the Chancellor to cough up emergency cash support for struggling families and businesses.
Ministers were “hanging around” on the issue of support but needed to act urgently to help households facing a cost of living crisis, he said.
Dardis called for the business rates system to be scrapped and for a VAT cut to boost growth. “If they really want they want businesses to help the economy grow out of this and they need to offer support,” he said.
In preliminary results, the pub company said its revenue for the last 13 weeks was boosted 17 per cent versus pre-pandemic levels of 2019.
The company, which boasts a 200-strong estate of pubs and hotels, posted an adjusted profit before tax of £41.8m for 2022, compared to a loss of £43.2m the year prior.
Dardis is to step down at the company’s AGM in July, after holding the reins for six years, with chief operating officer Simon Dodd to step into the role.