JD Wetherspoon yesterday reported rising third-quarter sales and said an encouraging performance from its recently opened pubs should help it achieve a reasonable full-year outcome.
The pub group said like-for-like sales for the 13 weeks to 24 April were 2.4 per cent higher. The company said in a statement: “Sales and cashflow continue to be resilient and the performance of our recently opened pubs remains encouraging, which should enable the company to produce a reasonable outcome in the current financial year.”
Wetherspoon said its third-quarter operating margin was 9.6 per cent, compared to 9.4 per cent in the first-half of the year. But the company warned that the disposable income of its customers was going down in the tough economy.
City A.M. Reporter