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J D Wetherspoon FY Profit Rises; Sees Reasonable Outcome For FY

J D Wetherspoon plc (JDW.L) reported that its profit for the 52 weeks ended 28 July 2019 rose to 72.78 million pounds or 69.0 pence per share from 66.71 million pounds or 63.2 pence per share in the previous year.

But, profit before tax and exceptional items decreased by 4.5% to 102.5 million pounds from 107.2 million pounds in the prior year.

Earnings per share, including shares held in trust by the employee share scheme, before exceptional items, were 75.5 pence, down from 79.2 pence in the prior year.

However, total sales were 1.82 billion pounds, an increase of 7.4% from last year. Like-for-like sales increased by 6.8%, bar sales by 5.8%, food sales by 8.3%, slot/fruit machine sales by 10.3% and hotel room sales by 3.9%.

The company noted that its board has proposed to pay an unchanged final dividend of 8.0 pence per share, on 28 November 2019, to shareholders on the register on 25 October 2019, giving an unchanged total dividend for the year of 12.0 pence per share.

The company currently anticipates a reasonable outcome (pre IFRS16) for the current financial year, subject to its future sales performance.

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