Pre-close statement

RNS Number : 2806K

Wetherspoon (JD) PLC

12 July 2011

 



13 July 2011

JD WETHERSPOON PLC

PRE-CLOSE STATEMENT 

JD Wetherspoon plc ("JD Wetherspoon" or the "Company") announces its pre-close statement prior to the end of the current financial year on 24^th July 2011.

Current Trading

For the 11 weeks to 10th July 2011, like-for-like sales increased by 1.6%. Total Company sales over the same period increased by 7.1%.  In the financial year-to-date (50 weeks to 10th July 2011), like-for-like sales increased by 2.2% and overall Company sales increased by 7.5%.

We currently anticipate reporting an operating margin (before exceptionals) for the second half of this financial year of approximately 9.5%.

Property

The financial year-to-date has seen 38 openings and 2 disposals. We anticipate opening approximately 50 pubs in the current financial year.

Financial position

There have been no significant changes in the Company's overall financial position since the IMS statement update on the 4 May 2011.

Outlook

As previously stated, the company, in common with many businesses, continues to be faced with rising costs for a wide range of goods and services, combined with a reduction in disposable income for many of its customers.

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.

Enquiries:

John Hutson, Chief Executive	01923 477 777
Kirk Davis, Finance Director	01923 477 777
Eddie Gershon, Company Spokesman	0208 352 5012/07956 392234

Notes to editors

1.  JD Wetherspoon owns and operates pubs throughout the UK. 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.co.uk

3.  This announcement has been prepared solely to provide additional information to the shareholders of JD Wetherspoon, in order to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied on by any other party, for 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.  The next trading update is expected to be the full year results which are due to be issued on 9^th September 2011. 

 

END

 

 

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