logo-loader
viewJD Wetherspoon

JD Wetherspoon boosted by football and jubilee celebrations

share_price_up350_4ffd57a5674f4.jpg

Strong trading around the Queen's Diamond Jubilee and the Euro football championship boosted JD Wetherspoon (LON:JDW), it said today.

The pub group said like-for-like sales in the 11 weeks to July 8 increased by 6.1 per cent, and total sales increased by 11.9 per cent.

Meanwhile, in the year to date, like-for-like sales were up 3 per cent, while overall, the company sales increased by 9.2 per cent.

The firm's current year ends on July 29 this year and it expects to achieve what it called a "reasonable outcome".

The main challenges for the firm are continuing cost pressures resulting from government legislation, including increases in excise duty, business rates and carbon tax, it said.

The company also said it had opened 40 new pubs and closed three pubs since the beginning of the financial year.

It said it aimed to open around 20 to 30 pubs in the next financial year.

Shares in the pub chain were up 2.21 per cent, to change hands at 431 pence.

Quick facts: JD Wetherspoon

Price: 961 GBX

LSE:JDW
Market: LSE
Market Cap: £1.16 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Alpha Growth PLC using experienced team to start Alpha Growth and Income...

Alpha Growth PLC (LON: ALGW) CEO Gobind Sahney joined Steve Darling from Proactive to discuss the fund called Alpha Growth and Income fund or AGI. This funds prospective client are family offices, pension funds, and other institutions that still wish to receive some income but also want their...

1 day, 15 hours ago

2 min read