Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Wetherspoon (JD) PLC (JDW)

  Print      Mail a friend       Annual reports

Wednesday 22 January, 2014

Wetherspoon (JD) PLC

Pre-Close Statement

RNS Number : 2045Y
Wetherspoon (JD) PLC
21 January 2014

22 JANUARY 2014






J D Wetherspoon plc ('J D Wetherspoon' or the 'Company'), announces an update on current trading, before entering its closed period for its interim results, for the six months ending 26 January 2014, which are expected to be announced on 14 March 2014.


Current trading


For the first 12 weeks of the second quarter (to 19 January 2014), like-for-like sales increased by 6.7% and total sales by 10.6%. In the year to date (25 weeks to 19 January 2014), like-for-like sales increased by 5.2% and total sales increased by 9.0%.


We expect the operating margin (before any exceptional items), for the half year ending 26 January 2014, to be around 8.1%, 0.2% lower than the same period last year, due primarily to increased investment in a number of areas, for example, (IT, training and additional operating personnel) as we prepare for an increased number of pubs in the years ahead. We now estimate an operating margin (before any exceptional items) in the region of 8.1% to 8.3% for this financial year, assuming that we achieve reasonable sales growth.


We now anticipate a slightly higher corporation tax rate for this financial year, at around 27%, due to higher-than-expected non-qualifying capital expenditure.




The Company has opened 18 new pubs so far this financial year and currently has 11 sites under development. In line with previous estimates, we intend to open approximately 40 to 50 pubs in the current financial year.


Financial position


In the period under review, the Company bought back 411,000 shares for cancellation, at a total cost of £2.9 million, at an average price of £6.98 per share. The Company also entered into agreements to fix the interest rates on part of its existing debt from July 2018 to July 2023 at rates which are lower than the average rate currently being paid (see note 4 below). There have been no significant changes in the Company's overall financial position since the publication, on 11 October 2013, of the annual report and accounts for the year ended 28 July 2013.




As the Company has pointed out on previous occasions, the pub industry continues to pay far higher taxes than supermarkets do, mainly as a result of an unequal and unfair VAT and business rates burden. This tax inequality has greatly widened the pricing differential for beer and other products between the on and off trade. Approximately 10,000 pubs have shut down in the last decade, about 15% of the total, and these closures are certain to continue unless politicians and governments create a fair tax system. Since pubs generate much higher taxes and many more jobs per pint or per meal than supermarkets do, tax equality would be beneficial for the wider economy, as well as the pub industry.

We have highlighted the impact on our margin of the increased investment which we are making to prepare for an increased number of pubs and the continued pressure from taxes.  Assuming reasonable sales growth, the Company is targeting a reasonable outcome for the current financial year.


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. J D 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:


3. This announcement has been prepared solely to provide additional information to the shareholders of JD 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. The Company has entered into forward-starting interest-rate swap agreements, totaling £400 million, which will run from July 2018 to July 2021 at a fixed rate of 3.73%. In addition, the Company has entered into forward-starting interest-rate swap agreements, totalling £150 million, which will run from July 2021 to July 2023 at a fixed rate of 3.80%.


5. The current financial year comprises 52 trading weeks to 27 July 2014.



This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t