Wetherspoon sees boost in sales after Rugby World Cup

JD Wetherspoon received a Rugby World Cup boost as sales increased more than 2 per cent in the first quarter. However, it blamed rising wage costs as its operating margin slumped to 6.2 per cent.

For the 13 weeks to October 25th, like-for-like sales were up 2.4 per cent and total sales increased by 6.1 per cent. The pub giant said sales were higher in the last six weeks, coinciding with the Rugby World Cup.

It predicted net debt at the end of the financial year to be slightly above last year’s total of £601 million.

"It is difficult to quantify exactly the factors which will influence our trading performance in the early stages of a financial year," said Wetherspoon chairman Tim Martin. "Increased labour costs . . . may result in our annual profits being slightly lower than the last financial year."

PA