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

JD Wetherspoon experiences 2019 like-for-like boost in Brexit-led pre-closing statement

10 July 2019 by

JD Wetherspoon chairman Tim Martin has reported boosts to like-for-like sales and total sales for the end of 2019 in a pre-closing statement that donated more column inches to Brexit than the business itself.

In the 10 weeks to 7 July 2019, the pub chain reported an uptick in like-for-like sales to 6.9%, along with an overall boost to total sales of 6.6%.

It has also followed marginal growth and consolidation for the firm, which now operates in around 900 sites in the UK and Ireland. In the last financial year, the company opened in five more locations, while disposing of nine.

Meanwhile the chain has invested £71m into the buying of freeholds on sites where it previously operated as a tenant, while buying back £5.4m in company shares.

In his comments on the results, chairman Tim Martin - an ardent supporter of Brexit - dedicated almost 500 of his own words to the state of Britain's negotiations with the EU, and a further 1,400 words to news stories outlining the positives of a no-deal scenario.

Commenting on the state of his business' finances, results, he said: "As regards Wetherspoon, the Company's expectation for our annual results is unchanged for the current financial year."

The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

Check mark icon
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.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking