JD Wetherspoon announces 6.2% increase in like-for-like sales

Pub operator J D Wetherspoon has announced a 6.2% increase in like-for-like sales in the 13 weeks to 27 April, despite posting a decrease for April and Easter.

The company's interim statement showed a like-for-like increase of 6.2% and a total sales increase of 10.9%, compared with the same time last year.

In light of the results, the company has stated it anticipates a good outcome for the year but is "retaining an element of caution" for the weeks ahead, thanks to the unpredictability of upcoming events such as the World Cup, set for this summer.

In addition to the unpredictable nature of the World Cup, the firm has also condemned what it called the disparity between the VAT and business rates of supermarkets and pubs, and stealth taxes on the late-night levy and on fruit/slot machines, calling them a danger to the pub industry.

However, it did welcome the recent reduction in excise duty for beer, which was introduced by Chancellor George Osborne in his most recent budget.

The company has opened 28 new pubs and disposed of three since the beginning of the financial year, and has repeated its plans to open 45 pubs in the current year, and 30 to 40 in the next year. There are currently 17 sites under development.

JD Wetherspoon to open 40-50 pubs this year >>
JD Wetherspoon to open eight pubs in July >>
JD Wetherspoon to open pub on M40 motorway >>