22nd Jan 2008 07:00
Wetherspoon (JD) PLC21 January 2008 22 January 2008 JD Wetherspoon PLC Pre-Close Statement JD Wetherspoon plc ("JD Wetherspoon" or the "Company") announces an update oncurrent trading prior to entering its close period for its interim results forthe six months ending 27 January 2008, which are expected to be announced on 7March 2008. Current Trading For the first 11 weeks of the second quarter (to 13 January 2008), like for likesales decreased by 3.2%. with the anticipated pattern of strong food salesgrowth combined with a decrease in bar sales. In the year to date (24 weeks to13 January) like for like sales decreased by 2.0% and overall Company salesincreased by 0.4%. A strong trend within our business has been a reduction in sales of premiumlagers and spirits and an upturn in sales of real ale, food and coffee, withsales, for example, of a million coffees and teas in the Christmas fortnight. We reported for the first quarter that operating margins declined by 0.6%. Weexpect the outcome for the half year to be slightly favourable to this primarilyas a result of lower energy and repairs costs. Property The financial year so far has seen the opening of 10 new pubs and it isanticipated that around 25 new pubs will open in the full year. This is slightlylower than previously indicated, with some openings now likely to take place inthe next financial year. Outlook In recent statements, we and other pub companies have emphasised an element ofuncertainty and caution resulting from the smoking bans introduced in England,Wales and Northern Ireland in 2007. We continue to remain cautious regarding theoutlook for this financial year. We are confident that a non-smoking environmentwill result in growth in both bar and food categories in the medium and longterm. Enquiries: John Hutson Chief Executive 01923 477777Keith Down Finance Director 01923 477777Eddie Gershon Company Spokesman 0208 352 5012 / 07956 392234 Visit our web site at www.jdwetherspoon.co.uk 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 at 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 that they approved this statement. Forward-looking statements should be regarded with caution because of the inherent uncertainties in economic trends and business risks. End This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wetherspoon (J.D)