Pre-close trading update
Like-for-like sales up 5.1% in 12 weeks to 20 July; profits anticipated in line with expectations.
vs expectations: in line with market expectations
- Like-for-like sales growth (12 weeks to 20 July 2025) 5.1%
- Like-for-like sales growth (year-to-date) 5.1%
- Number of pubs operated 794
- Anticipated year-end net debt £720 million
- Available headroom under facilities £220 million
- Shares purchased for cancellation (year-to-date) 10,579,081 at average price of £6.26
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Like-for-like sales increased by 5.1% in the 12 weeks to 20 July 2025, compared to the same period last year. Year-to-date like-for-like sales increased by 5.1%.
Property
In the year-to-date, the company has opened three pubs and sold nine.
The company currently operates 794 pubs.
Five new franchised pubs have opened in the year-to-date, bringing the total to eight.
Eight freehold reversions, where Wetherspoon was previously the tenant, have been acquired in the year-to-date, at a total cost of £19 million.
Financial Position
In the year-to-date, the company has purchased 10,579,081 of its own shares for cancellation at an average price of £6.26 a share.
We currently anticipate year-end net debt to be approximately £720 million, with headroom, under existing facilities, of approximately £220 million.
Outlook
The chairman of JD Wetherspoon, Tim Martin, said:
"The company has benefitted from favourable weather in the fourth quarter, so that profits are anticipated to be in line with market expectations, notwithstanding the high tax and labour increases for the hospitality industry, which have been widely reported.
"In the next financial year, as well as investing in areas such as staff rooms, glass racks for "branded" glasses, and gardens, the company plans to open approximately 15 new managed pubs and about the same number of franchised pubs."
"Sales volumes, which were very slow post-pandemic, have recently overtaken pre-pandemic levels. Wine, for example, has shown strong growth, with Villa Maria from New Zealand and Prosecco from Italy both shooting the lights out. Spirits have improved in recent months and whisky volumes are significantly above pre-pandemic levels.
"Draught volumes are performing strongly with Guinness being the standout performer. On the food front, breakfasts, terribly slow post-pandemic, have recovered their lustre and are now well ahead. Chicken, also, has put in a clucking good performance and volumes in recent weeks are up by about 50% compared to pre-pandemic levels."
Visit our website: www.jdwetherspoon.com
4.
- The current financial year comprises 52 trading weeks to 27 July 2025.
- The next trading update is expected to be the Company's final results announcement on 3 October 2025.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.