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First quarter performance at top end of profit forecast. About as good as can be expected, but macro issues will dominate the ftse today.

Rumours of a knighthood for Tim Martin, well deserved plus would annoy all the right people :-0 . Good news for the new year at least.

Which is why QD makes such posts.

10%ish LFL revenue increase but higher that pub trade average ~5%. Refinancing slow and steady, interesting to see it shows interest rates coming down over the next year or two.

Very steady as she goes, after 40 years, guess that’s what got Wetherspoons to where it is today.

Too busy virtue signalling over Palestine.

As suspected by many on this board at the time, the reason for the rebrand made selling pieces off easier under an umbrella company called Mobico

-0.11% but atleast it’s in the right direction. At least they are beginning to agree it can’t go much lower (can it!)

It’s getting more serious now but things kicking off in the ME is nothing new. FTSE opening still 0.33% up according to IG (on thin volumes)

Decent return to profit but that’s before exceptional items - are there any on the horizon? making the drop make sense?

What are the shorts waiting for? Worst is behind us surely.

Very resilient in the current climate.

However, SMWH posted results this month that said their upgraded profit forecast was on track and it dropped 6% on the day - so I’m not banking on a rise today!

No director would be buying if an RI was under discussion.

Trading statement inline with upgraded guidance and we get a 6% drop, strange times.

It was the covenant debt I was referring to, 40mm is much closer too(rereading the half year report) the one that gives the reduction from 3.1x to 2.8x for the covenant gearing. Sure they are focused on reducing that further and they have made a big thing about getting it to 2.5 and then below 2 in the long run.

From the results for last year debt was reduced by 50mm, the BOD could easily have left the debt outstanding untouched and posted a profit instead. Long game is in reducing the debt first.

Not a huge amount but not the direction I was expecting nor hoping for either. They still think this is worth hanging in for?

It’s the unseen costs that have cropped up which causes pessimism - being pushed into loss by the write down in goodwill in Alsa, removal of covid funding mentioned after the event for example. A year without such costs would be a big help in restoring confidence.

Don’t think a positive RNS for little reason would help as people start asking why they feel the need to do it, sowing more doubt. Can’t win that way.

That’s why I wrote “last few days”, not last year.

At least this appears to be holding just above 80 whilst the FTSE250 sees drops over the last few days.

Most obvious change is the interest rate, with one or two more 0.25% rises expected still before we top out.