REG - Wetherspoon (JD) PLC - Trading Update Announcement

J D WetherspoonAnnouncement

Wed 07:00

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RNS Number : 5797H  Wetherspoon (JD) PLC  07 May 2025

7 May 2025

J D WETHERSPOON PLC

Trading Update Announcement

J D Wetherspoon plc ('J D Wetherspoon' or 'the Company'), announces a trading
update for the 13-week period to 27 April 2025.

 

 

Current Trading

 

Like-for-like sales increased by 5.6% in the 13 weeks to 27 April 2025,
compared to the same period last year. Year-to-date (YTD) like-for-like sales
increased by 5.1%.

 

Total sales increased by 5.0% in the quarter and by 4.2% YTD. Total sales are
slightly less than like-for-like sales as a result of a small number of pub
disposals, as indicated in "Property" below.

 

 

Property

 

In the YTD, the company has opened two pubs and sold seven.

 

We intend to open a further four or five pubs in this financial year and
approximately 10 pubs in the following financial year.

 

Seven freehold reversions, where Wetherspoon was previously the tenant, have
been acquired in the YTD, at a total cost of £17 million.

 

The company currently operates 795 pubs.

 

An additional seven pubs now operate under a franchise agreement, four of
which opened during the last quarter, all operated by Haven Holiday Parks.
They are: The Red Rocks, Devon Cliffs, Devon; The Humber Stone, Cleethorpes
Beach, Lincolnshire; The London Stone, Kent Coast, Kent; The Sir Thomas
Haggerston, Haggerston Castle, Northumberland.

 

 

Financial Position

 

In the YTD, the company has purchased 7,236,487 of its own shares for
cancellation at an average price of £5.76 a share.

 

We currently anticipate year-end net debt of between £720 million and £740
million, with headroom, under existing facilities, of approximately £200
million.

 

 

 Outlook

 

The chairman of JD Wetherspoon, Tim Martin, said:

 

"The company's main ambition, as always, is to improve its appeal to staff and
customers. In this connection, for example, the company has invested in new
staff facilities in 520 pubs (49 in the current year), including staff rooms
and changing rooms, with approximately 270 planned for the future. The
investment per pub is approximately £100,000.

 

"The product range for customers continues to evolve. For example, the company
has recently introduced, nationwide, the highly regarded Jaipur traditional
ale from the Thornbridge Brewery, as well as renowned international beer
brands, Kronenbourg 1664 Biere and Poretti.

"As regards the menu, new initiatives include a gourmet burger offer, which
has proved extremely popular in the pubs in which it has been trialled.

 

"Bearing in mind that recent trading has been helped by favourable weather,
the company anticipates a reasonable outcome for the financial year,
notwithstanding previously reported wage and tax increases of approximately
£1.2 million per week."

 

 

 

 

 

 

 

Enquiries:

 

John Hutson                 Chief Executive
Officer              01923 477777

Ben Whitley                   Finance
Director
01923 477777

Eddie Gershon              Company
spokesman                07956 392234

 

 

Notes to editors:

 

1.   J D Wetherspoon owns and operates pubs throughout the UK and Ireland.
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.com
(https://protect-eu.mimecast.com/s/eb03CBLMZIl3p9mCNcSBB?domain=jdwetherspoon.com)
 

 

3.   This announcement has been prepared solely to provide additional
information to the shareholders of J D 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.   This announcement contains inside information on J D Wetherspoon plc.

 

5.   The current financial year comprises 52 trading weeks to 27 July 2025.

 

6.   The next trading update is expected to be the Company's statement on 23
July 2025.

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