UPDATE 1-UK pubs group Young's Q1 sales up on last year

* Says trading in line with expectations

* Managed pubs comparable sales up 0.1 pct

(Adds detail)

LONDON, July 14 (Reuters) - London-focused pubs group Young's (YNGa.L) said on Tuesday it had made a solid start to the current financial year and was trading in line with expectations despite tough economic conditions.

The company, said total sales at its 122 managed pubs were up 3.3 percent in the 15 weeks to July 11, with like-for-like sales 0.1 percent ahead of the same period the previous year.

Young's, which pitches its pubs at the more expensive end of the market, said it had achieved the sales increases while also maintaining its premium offering.

"Whilst we continue to be mindful of the broader economic outlook, we are encouraged by the resilience of the business to continuing difficult economic conditions," said Chairman Christopher Sandland.

The company did not comment on trading at its 99 tenanted pubs which, in common with the rest of the industry, have been hit harder by factors such as the recession, above-inflation tax rises, and cheap booze offers in supermarkets keeping drinkers at home.

Sandland said Young's had the resources to take advantage of opportunities thrown up by the difficult trading environment to acquire additional pubs.

In its last financial year, Young's purchased four pubs including the Old Ship on the Thames in Hammersmith and the Parrott, the oldest pub in Canterbury, Kent.

At 1215GMT, shares in Young's were up 3.5 pence at 471.

(Reporting by Matt Scuffham)