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23 Jul 2025 07:00
23 July 2025
J D WETHERSPOON PLC
Pre-close trading update
J D Wetherspoon plc (the "company") today publishes a pre-close trading update. The preliminary results are due to be released on 3 October 2025.
Current Trading
Like-for-like sales increased by 5.1% in the 12 weeks to 20 July 2025, compared to the same period last year. Year-to-date like-for-like sales increased by 5.1%.
Property
In the year-to-date, the company has opened three pubs and sold nine.
The company currently operates 794 pubs.
Five new franchised pubs have opened in the year-to-date, bringing the total to eight.
Eight freehold reversions, where Wetherspoon was previously the tenant, have been acquired in the year-to-date, at a total cost of £19 million.
Financial Position
In the year-to-date, the company has purchased 10,579,081 of its own shares for cancellation at an average price of £6.26 a share.
We currently anticipate year-end net debt to be approximately £720 million, with headroom, under existing facilities, of approximately £220 million.
Outlook
The chairman of JD Wetherspoon, Tim Martin, said:
"The company has benefitted from favourable weather in the fourth quarter, so that profits are anticipated to be in line with market expectations, notwithstanding the high tax and labour increases for the hospitality industry, which have been widely reported.
"In the next financial year, as well as investing in areas such as staff rooms, glass racks for "branded" glasses, and gardens, the company plans to open approximately 15 new managed pubs and about the same number of franchised pubs."
"Sales volumes, which were very slow post-pandemic, have recently overtaken pre-pandemic levels. Wine, for example, has shown strong growth, with Villa Maria from New Zealand and Prosecco from Italy both shooting the lights out. Spirits have improved in recent months and whisky volumes are significantly above pre-pandemic levels.
"Draught volumes are performing strongly with Guinness being the standout performer. On the food front, breakfasts, terribly slow post-pandemic, have recovered their lustre and are now well ahead. Chicken, also, has put in a clucking good performance and volumes in recent weeks are up by about 50% compared to pre-pandemic levels."
Enquiries:
John Hutson Chief Executive Officer 01923 477777
Ben Whitley Finance Director 01923 477777
Eddie Gershon Company spokesman 07956 392234
Notes to editors
1. J D Wetherspoon owns and operates pubs throughout the UK and Ireland. The Company aims to provide customers with good-quality food and drink, served by well-trained and friendly staff, at reasonable prices. The pubs are individually designed, and the Company aims to maintain them in excellent condition.
2. Visit our website: www.jdwetherspoon.com
3. This announcement has been prepared solely to provide additional information to the shareholders of J D Wetherspoon, to meet the requirements of the FCA's Disclosure and Transparency Rules. It should not be relied on by any other party, for any other purposes. Forward-looking statements have been made by the directors in good faith, using information available up until the date on which they approved this statement. Forward-looking statements should be regarded with caution, because of the inherent uncertainties in economic trends and business risks.
4. This announcement contains inside information. The person responsible for arranging release of the announcement on behalf of the Company is Ben Whitley, Finance Director.
5. The current financial year comprises 52 trading weeks to 27 July 2025.
6. The next trading update is expected to be the Company's final results announcement on 3 October 2025.
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