29th Apr 2005 07:00
Wetherspoon (JD) PLC29 April 2005 JD WETHERSPOON PLC Press Release 29 April 2005 THIRD QUARTER TRADING UPDATE Current Trading Like-for-like sales for the third quarter of our financial year (the thirteenweeks ended 24 April 2005) decreased by 2.0% (year to date down 0.5%). Overallsales increased by 2% to £202.9m (year to date up 3% to £606.3m). The netoperating margin for the quarter declined by approximately 1% compared to theprevious year. Property During the third quarter we opened 6 pubs, bringing the year to date number ofopenings to 12. We are anticipating opening 1 additional pub in the currentfinancial year. As highlighted as part of our interim results, we haveidentified 16 pubs for disposal and agreement has now been reached in principleon all of these pubs. Non-Smoking Pubs We brought forward the conversion of the first batch of existing pubs tonon-smoking to the 9th March (National Non-Smoking Day) and have now converted11 existing pubs , as well as opening 6 new pubs on this basis. Although it isearly days, trade at the new and converted pubs has been broadly in line withexpectations, although initial indications are that a dip in bar sales and anincrease in food sales puts some pressure on margins. Given the forthcomingsmoking ban in pubs, we will continue with our efforts to maximise sales andprofits at these pubs. By the end of May we will have approximately 30 non-smoking pubs and we plan toconvert a further 30 in the coming months. A full list of the current non-smoking pubs is attached. Outlook The financial results for the 12 months to the end of July 2005 are currentlyexpected to be in line with analysts expectations and will be announced in earlySeptember 2005. Enquiries: Jim Clarke Finance Director 01923 477777Eddie Gershon Company Spokesman 0208 352 5012/ 07956 392234 Visit our web site at www.jdwetherspoon.co.uk JD WETHERSPOON PLC - Non-Smoking Pubs New Openings Existing Conversions George's Meeting House, Exeter The Old Manor, BracknellWaterend Barn, St, Albans Pennsylvanian, RickmansworthAbraham Derby, Merry Hill Centre The Back of Beyond, ReadingThe Draper's Arms, Peterborough Wetherspoons, Metrocentre, GatesheadThe Ivy Wall, Spalding The Welkin, LiverpoolDockle Farmhouse, Swindon The King of Wessex, Bath Moon on the Square, Basildon The Pommeler's Rest, Tower Bridge The Sir John Oldcastle, Farringdon The Good Yarn, Uxbridge The West Gate Inn, Canterbury This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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