LONDON (ShareCast) - Pub group and real ale brewer Young and Co’s Brewery said like for like sales on a same outlet basis fell over 3% during September and October and doesn't expect conditions to improve in the short term.

"Market conditions remain extremely challenging and were compounded in recent weeks by the unprecedented events in the financial markets during September and October," the group said in a company statement.

Managed house sales for the first seven week srose 1.6% but fell 3.3% on a same outlet like for like basis. "In the circumstances, we believe that this is a creditable performance," the group added.

For the 26 weeks ended 27 September 2008 pre-tax profit rose to £9.4m from £4.3m before while sales increased to £66.3m from £63.9m.

An interim dividend of 6.12p has been declared up 2% from last time.

Looking ahead to future trading the group added, "We believe we have a sound platform for the immediate and long-term future of the business."

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