logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT