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JD Wetherspoon 12-week Total Sales Up 8.3%; Affirms FY Outlook - Quick Facts

British pub operator JD Wetherspoon Plc. (JDW.L) Wednesday reported total sales growth of 8.3 percent for the first twelve weeks of the second quarter, with like-for-like sales growth of 7.2 percent.

For the year to date period of 25weeks to January 20, 2019 total sales rose 7.2 percent and like-for-like sales grew 6.3 percent.

Since the start of the financial year, the company has opened 2 new pubs and sold 6. It intends to open between 5 and 10 pubs in the current financial year.

JD Wetherspoon said it has agreed a new five-year revolving credit facility of 875 million pounds, (previous 820 million pounds), on attractive financial terms. The new facility matures in January 2024.

Looking ahead, the company said it expects profit before tax in the first half to be lower than the same period last year. However, the company's expectations for the full year are unchanged.

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