Wetherspoons expects better outcome for the year as sales rise in second quarter

Pub chain Wetherspoons has seen total sales rise by 6.2 per cent in the 11 weeks to 14 July, with like-for-like sales up 3.5 per cent (release).

The firm has opened 29 firms since the start of the financial year, and sold three, with plans to open around 30 in the next financial year.

The company warmly welcomes the reduction in beer duty announced in the March budget (but overall excise duty increased). However, the late night levy, machine gaming duty and business rates taxes have increased, as well as pension costs.

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We are now on track to achieve a slightly better outcome (before any exceptional items) for the current financial year than previously anticipated.