Sales and profits at JD Wetherspoon are at record levels, says Chairman Tim Martin

11th March 2011, 11:31am

Pub chain JD Wetherspoon has reported a 11% drop in pre-tax profits in the 26 weeks to 23 January.

Other highlights include revenue rising by 7.6% to £525.4m (2010: £488.1m), earnings per share down 9.1% to 15.9p (2010: 17.5p) and operating profit increased by 1.4% to £49.6m (2010: £48.9m).

During this period 14 pubs have also opened, and two have closed, now totalling 787.

Tim Martin, chairman of the pub group, remains positive for the year ahead: "Sales and operating profits in the six months under review were at record levels, in spite of the pernicious combination of increasing taxes and regulation. 

"Trading in the 6 weeks to 6 March 2011 continued on a similar trend to the first half of the current financial year, with like-for-like sales up 2.8% and total sales increasing by 7.9%.

"Given our resilient sales performance and strong cash flow, I remain confident of a reasonable outcome in the current financial year."

Related Articles:

• 28 Jul 2010 - Cornwall venture sold to pub operator JD Wetherspoon
• 05 Jul 2010 - Wetherspoon drops the price of its coffee to 49p
• 05 May 2010 - Like-for-like sales down at JD Wetherspoon
• 11 Mar 2010 - JD Wetherspoon announce record first-half profits
• 07 Dec 2009 - JD Wetherspoon has best pub loos across the UK
• 11 Sep 2009 - JD Wetherspoon reports record sales
• 13 May 2009 - JD Wetherspoon gets saucy with Levi Roots
• 06 May 2009 - JD Wetherspoon announces positive trading
• 20 Jan 2009 - JD Wetherspoon cuts back on expenditure
• 09 Dec 2008 - Wetherspoon has best toilets in the UK
• 25 Sep 2007 - JD Wetherspoons tell students to live a life

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