For the 10 weeks to 7 July, like-for-like sales, which strip out the impact of new and closed sites, jumped by 6.9%.
So far in ‘Spoons’ financial year, which runs until the end of July, like-for-likes are up 6.7%, while total sales have soared by 7.4%.
That’s much better than most of its rivals, with Greene King PLC (LON:GNK) recently reporting a 1.8% rise in revenue, and Marstons PLC (LON:MARS) and Fuller Smith & Turner PLC (LON:FSTA) nearer to 5%.
But a surge in costs, particularly staff wages, means Wetherspoons’ top-line growth is unlikely to translate into higher profits when the company reports its full-year results in September.
No record profit this time around
Back in November, when it revealed it was upping pay for all of its workers, the FTSE 250 group said it expected “a trading outcome slightly below that achieved in the previous financial year”.
In Wednesday’s update, chairman Tim Martin, alongside his usual Brexit spiel, said this expectation remains unchanged.
That would bring to an end a run of impressive results for ‘Spoons, which has delivered record profits in each of the past three years.