2nd Nov 2006 07:00
Wetherspoon (JD) PLC02 November 2006 JD WETHERSPOON PLC Press Release 2 November 2006 FIRST QUARTER TRADING UPDATE Current Trading Like-for-like sales in the thirteen weeks ended 29 October 2006 increased by9.2% compared to a decline of 0.9% in the equivalent period a year ago. Totalsales increased by 9.7% to £220.4 million. Non-Smoking Pubs The company currently has 56 non-smoking pubs in England and Wales, comprising19 new openings and 37 conversions. The majority (35) of the converted pubs havenow reached their first anniversary as non-smoking outlets which affects thelike-for-like sales trends. The England and Wales non-smoking pubs hadlike-for-like sales increases during the first quarter of 11.8%. On a two yearbasis, which compares the pubs to a period prior to conversion to non-smoking,the like-for-like sales increases for the 13 weeks were 2.2%. The 39 non-smoking pubs in Scotland have had an encouraging start to the newfinancial year with like-for-like sales increases of 5.2%. As we have previouslystated, it may be too early to judge the longer term impact of non-smoking inScotland, and conditions may be more testing in the winter months. Outlook The company has traded well in Q1. As previously highlighted, October saw anincrease in underlying costs, primarily relating to labour and power, and thefull impact of these cost increases will be felt in the course of the remainderof the financial year. We expect to announce our interim pre-close statement towards the end of January2007 and our interim results in the early part of March 2007. Enquiries: John Hutson Chief Executive 01923 477777Jim Clarke Finance Director 01923 477777Eddie Gershon Company Spokesman 0208 352 5012/07956 392234 Visit our web site at www.jdwetherspoon.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wetherspoon (J.D)