Growing food and booze sales give festive cheer to Marston’s January 21, 2014 MARSTON’S yesterday became the latest pub chain to report strong trading over the Christmas and New Year period, with like-for-like sales up 4.1 per cent. Food sales grew by 5.6 per cent in the 15 weeks to 18 January, the firm said, while at its more drinks-led managed pubs’ sales were up three per cent. [...]
Best of the Brokers for 16 January 2014 January 15, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com WETHERSPOONS Brokers at Numis have increased their target price on the stock to 925p and put an “add” rating on the stock due to a faster rate of expansion at the pub chain and falling swap costs. The pub plans to open eight [...]
Wetherspoons ups target to open new pubs November 6, 2013 PUB OPERATOR JD Wetherspoons yesterday raised its target for new pub openings in 2014 and said like-for-like sales were up 3.7 per cent during the first quarter to 27 October. Wetherspoons plans to open between 40 and 50 new pubs this year, it said in an interim management statement yesterday, up from its earlier target of [...]
Analyst Views: What do you make of JD Wetherspoon’s interim management statement? November 6, 2013 JAMES HOLLINS | INVESTEC“Wetherspoon has delivered strong like-for-like performance and increased its targeted estate expansion for 2014. Wetherspoon, despite a rise in our maintenance capex estimates to reflect a facilities upgrade programme, is forecast to drive a free cash flow yield of 8.7 per cent this year. NICK BATRAM | PEEL HUNT“Top-line growth was better [...]
JD Wetherspoon sales rise as it attacks government over VAT November 6, 2013 VAT disparity between supermarkets and pubs is the biggest danger to the pub industry, according to JD Wetherspoon. (Release) The pub chain said in its interim management statement: Since supermarkets pay almost no VAT in respect of food sales, whereas pubs pay 20 per cent, supermarkets are able to subsidise their drinks' prices to the [...]
Best of the Brokers for 04 November 2013 November 3, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com G4S Numis has an “add” rating on the outsourcing giant and a target price of 300p ahead of an investor day tomorrow. The broker expects the firm to set out a rejuvenated set of best practices alongside a two to three per cent [...]
London Report: Recovery looks on track in busy reporting week November 3, 2013 SERVICES figures due out this week, plus the latest updates on industrial and manufacturing production, look set to show continued recovery for the British economy. “September’s industrial production figures are likely to show that overall output partially recovered from its surprise 1.1 per cent monthly fall in August,” said Martin Beck, of Capital Economics. “Manufacturing [...]
JD Wetherspoon slams government’s tax policy as pub chain’s profits suffer October 16, 2013 THE chairman of pub chain JD Wetherspoon yesterday hit out at what he called excessive and unfair government taxes on pubs yesterday. “We believe that pubs are taxed excessively and that the government would create more jobs and receive higher levels of overall revenue, if it were to create tax parity among supermarkets, pubs and [...]
JD Wetherspoon slams unsustainable taxes on pub sector October 16, 2013 JD Wetherspoon's 2013 annual report has shown pre-tax profits fall by three per cent to £57.1m in the 52 weeks ended 28 July as it warns that heavy taxation threatens the pub sector. There was some good news for shareholders with earnings per share, before exceptional items, increasing 12.6 per cent, along with revenue growth [...]
Wetherspoons hit by rising tax bill as it expects “reasonable outcome” this year September 13, 2013 Wetherspoons chairman Tim Martin has slammed the "far higher taxes" imposed on pubs than on supermarkets in a comment on the chain's results today. Already, 10,000 pubs have closed and many others are suffering, through insufficient investment. In particular, there should be VAT equality for pubs, restaurants and supermarkets. Wetherspoon, along with many other pub [...]