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JD Wetherspoon reports positive results
By Helen Patenall
Pub operator JD Wetherspoon has released a trading update for the final quarter ended 16 July in advance of announcing its preliminary year end results.
For the 12 weeks to 16 July, the company experienced a like for like sales increase of 5.1 per cent – boosted by the recent good weather – which resulted in a year to date (51 weeks) like for like sales increase of 2 per cent.
Total company sales increased by 5 per cent to £197.5m for the 12-week period and by 2.3 per cent to £813.1m for the year to date.
Based on the current strong sales performance, the company expects the outcome for the year ended 30 July 2006 to be towards the top end of market expectations.
In addition, the non-smoking pubs in Scotland experienced a positive start with like for like sales in the first month (April) of 3.2 per cent. However, the last 12-week period experienced a subsequent 0.3 per cent decline.
Wetherspoon plans to open a further nine pubs by December. Details: www.jdwetherspoon.co.uk
Pub operator JD Wetherspoon has released a trading update for the final quarter ended 16 July in advance of announcing its preliminary year end results.
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