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JD Wetherspoon HY Pre-tax Profit Down; Anticipates Unchanged Trading Outcome

British pub operator JD Wetherspoon Plc. (JDW.L) reported that its profit before tax for the 26 weeks ended 27 January 2019 declined to 48.6 million pounds from 54.3 million pounds in the previous year.

Profit for the period was 37.95 million pounds or 36.0 pence per share compared to 41.44 million pounds or 39.2 pence per share last year.

Earnings per share, including shares held in trust by the employee share scheme, and before exceptional items, decreased by 18.2% to 37.4 pence from 45.7 pence in the prior year.

Profit before tax and exceptional items decreased by 18.9% to 50.3 million pounds from last year's 62.0 million pounds. Lower profit in the period was due to cost increases in areas including labour, repairs, utilities, interest and depreciation.

Like-for-like sales increased by 6.3%, with total sales increasing by 7.1% to 889.6 million pounds from 830.4 million pounds last year.

The board declared an interim dividend of 4.0p per share for the current interim financial period ending 27 January 2019 (2018: 4.0p per share). The interim dividend will be paid on 30 May 2019 to those shareholders on the register at 3 May 2019.

The company anticipates an unchanged trading outcome for the current financial year.

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