JD Wetherspoon Plc (JDW.L) on Wednesday said that its 13-week like-for-like or LFL sales climbed 6 percent. The company added that it expects a reasonable outcome for the year ahead.
in its trading update for the 13-week period to April 27, the company said its total sales rose 5 percent.
Year-to-date LFL sales rose 5.1 percent while total sales came in 4.2 percent higher than last year.
The company said that it opened two pubs and sold seven in the year-to-date period. At present, it operates 795 pubs.
JD Wetherspoon plans to open four to five more pubs in fiscal 2025 and around 10 the next year.
The year-end net debt is projected between 720 million pounds and 740 million pounds, with approximately 200 million pounds in facility headroom.
Looking ahead, Chairman, Tim Martin, said, "Bearing in mind that recent trading has been helped by favourable weather, the company anticipates a reasonable outcome for the financial year, notwithstanding previously reported wage and tax increases of approximately 1.2 million pounds per week."
On the LSE, the stock is down 0.51 percent on Wednesday's trading at 684.50 pence.
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