Wetherspoon 25-week LFL Sales Up 13.1%; Cautiously Optimistic About FY Prospects

J D Wetherspoon plc (JDW.L) reported that, in the 25 weeks to 22 January 2023, like-for-like sales were 13.1% higher than a year ago. The Group noted that its like-for-like sales were 0.7% lower than the same period immediately before the pandemic - the 25 weeks to 26 January 2020.

For the last 12 weeks, like-for-like sales were 17.8% higher than the same period a year ago and were 2.0% lower than the pre-pandemic period.

The Group's free cash flow is estimated to be substantially in excess of profits, as a result of a cash inflow of approximately 170 million pounds from the October 2022 sale of interest rate swaps.

Wetherspoon chairman Tim Martin said: "We are cautiously optimistic about the company's prospects for the financial year."

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