Friday - preliminary results31 Aug 2009 19:54
"High street pub chain JD Wetherspoon will announce its preliminary results on Friday. With the opening of 33 new pubs since January 2009 and six more openings currently being planned, Wetherspoons seems to be benefiting from its resilience during the economic downturn.
Because energy, labour and marketing costs for the new pubs have been less than originally expected, Wetherspoons has announced an anticipated 10 per cent higher operating margins than originally expected. As a result of its success, the company has said it is optimistic concerning the prospects of Wetherspoons in the coming year.
Since the beginning of the financial year, like-for-like sales have increased by 1.2 per cent and overall sales have risen by 5.2 per cent thanks to consistent sales and the new openings. Similarly, in the fourth quarter, like-for-like sales increased by 3.1 per cent."