Wetherspoon ‘slightly more cautious' about the future

05 May 2010 by
Wetherspoon ‘slightly more cautious' about the future

Managed pub operator JD Wetherspoon has warned that it feels "slightly more cautious" about the next financial year, as it revealed a 0.8% in like for like sales for the 13 weeks to 25 April.

Overall sales were up 3.6% thanks to the opening of 26 new pubs and the firm indicated that it expects to open a total of 45 pubs for this financial year.

But Wetherspoon said that, although it was confident about the company's prospects for this financial year, it had slightly downgraded its assessment of the coming financial year, warning of the annualised effect of recent tax and duty increases, higher interest charges, and more subdued consumer spending.

In the year to date (the 39 weeks to 25 April), like-for-like sales were down 0.2% and overall sales were up 4%.

It also revealed that it had received a cash payment of £14.9m for a claim against overpayment of VAT on amusement machines.

Wetherspoon buys five Punch pubs >>
Wetherspoon relaunches controversial ‘January sale' >>
JD Wetherspoon sales hit by icy weather >>

By Neil Gerrard

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