Search
The Caterer

JD Wetherspoon reports like-for-like sales increase

22 January 2020 by
JD Wetherspoon reports like-for-like sales increase

JD Wetherspoon has seen like-for-like sales increase by 4.7% in the 12 weeks to 19 January 2020.

In its Q2 trading update the pub giant reported a total sales increase of 4.9% for the year to date.

The financial year has seen JD Wetherspoon open one pub and sell five. It intends to open a further 10 to 15, with £80m to be spent on new sites and extensions this year.

Chairman Tim Martin said: "We continue to anticipate a trading outcome for this financial year in line with our previous expectations."

The group continues to invest in pub freeholds and has spent £57m, in the year to date on sites where it was previously a tenant. A total of £320m has been spent on reversions since 2014.

Net debt at the end of the financial year is expected to be between £780m and £820m, slightly more than expected due to higher than anticipated capital expenditure. The company has said its debt level approximately equals its expenditure on reversions and buybacks.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.