Wetherspoon Chief Executive John Hutson and Finance Director Keith Down

JD Wetherspoon announce record first-half profits

11th March 2010, 11:09am

Tim Martin, chairman of national pub chain JD Wetherspoon has thanked his staff for their hard work and support after the business posted record first-half profits.

Pre-tax profits up 41% to £36.2 million have put Wetherspoon back in a position where it can reinstate shareholders dividends.

Turnover topped £488 million and during the six-month period the pub chain opened 17 new sites, taking the total to 746.

Commenting on the results, Martin said: "Sales and profits in the six months under review were at record levels, notwithstanding the immense pressure on the pub business from government legislation, thanks, above all, to the great efforts of all of our staff.

"Trading in the six weeks to 7th March 2010 continues on a similar trend to last year, with like-for-like sales down 0.4% and total sales increasing by 3.9%. As a result of our sales, profits and free cash flow, together with our continued efforts to improve every area of the business, I remain confident of our future prospects."

To read our exclusive interview with Tim Martin click here.

Related Articles:

• 06 Apr 2011 - Wetherspoon pub group applauded for corporate responsibility standards
• 11 Mar 2011 - Sales and profits at JD Wetherspoon are at record levels, says Chairman Tim Martin
• 14 Oct 2010 - JD Wetherspoon loses finance director and chief operating officer
• 11 Oct 2010 - Wetherspoon pubs to host international beer festival
• 10 Sep 2010 - JD Wetherspoon celebrates record results as it warns government on taxes
• 14 Jul 2010 - Like-for-like sales increase at JD Wetherspoon

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