JD Wetherspoon reports record sales

11th September 2009, 11:07am

Pub operator JD Wetherspoon has reported record sales levels, according to its latest trading update in the year to 26 July.

Like-for-like sales in the year increased by 1.2%, with total sales, including new pubs, growing by £47.6 million to £955.1 million, a rise of 5.2%.

The group made a pre-tax profit of £66.2m, up 13%, however profits fell 16.9% to £45m after one-off costs.

Tim Martin, chairman of J D Wetherspoon plc, remains positive for the future: "The cost outlook for the company is better than for some recent years, with a minimum wage increase of 1.2% due in October 2009 and food cost inflation at lower levels. We have also agreed improved buying prices in energy which will, on current consumption levels, save £5 million in the financial year ended July 2010.

"We will look to maintain those improvements made in the year under review and, where sensible to do so, seek further improvements.

"As in the recessions of the early 1980s and 1990s, the company has traded well by concentrating on the key ingredients of standards, service, staff training and incentives. As a result of our strong cash flow, our dedicated management team and our continuing efforts to improve the business, we remain confident of our future prospects."

The group has over 700 pubs across the UK.

Related Articles:

• 04 May 2011 - Pub chain JD Wetherspoon achieves 2.4% rise in like for like sales
• 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
• 07 Dec 2009 - JD Wetherspoon has best pub loos across the UK
• 01 Dec 2009 - Pub chain JD Wetherspoon creates 10,000 jobs with 250 new pubs
• 16 Nov 2009 - JD Wetherspoon purchases five pubs from Punch Taverns
• 04 Nov 2009 - JD Wetherspoon sees an 'encouraging start' to first financial quarter
• 14 Sep 2009 - JD Wetherspoon introduces new drinks across all pubs
• 02 Sep 2009 - JD Wetherspoon invests in staff with skills initiative
• 27 May 2009 - ‘Business is on the up’ says Wetherspoon
• 13 May 2009 - JD Wetherspoon gets saucy with Levi Roots
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• 20 Jan 2009 - JD Wetherspoon cuts back on expenditure

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