Pub operator J D Wetherspoon plc (JDW.L) reported that its profit before tax for the 26 weeks ended 28 January 2024 dropped to 26.14 million pounds from 56.95 million pounds in the prior year.
Profit for the period was 18.65 million pounds or 14.7 pence per share down from 36.92 million pounds or 29.0 pence per share in the previous year.
But revenue for the period grew to 990.95 billion pounds from 915.96 billion pounds last year.
Before separately disclosed items, like-for-like sales for the period increased by 9.9%. Like-for-like bar sales increased by 11.6%, food sales by 7.6%, slot/fruit machine sales by 10.5% and hotel rooms by 2.8%.
The board has not recommended the payment of an interim dividend compared to nil dividend paid last year.
The company currently anticipates a reasonable outcome for the financial year, subject to its future sales performance.
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