Wetherspoon toasts better than expected sales
Pub chain had previously signalled caution about second half of year
Wetherspoon chairman Tim Martin who warned last month that the firm “remains cautious” over second-half trading due to surging costs. Photograph: Alan Betson
Pub group JD Wetherspoon has toasted better than expected recent sales, which it said were set to lead to slightly improved trading for the year to July 30th. The better full-year outlook comes after boss Tim Martin warned last month the firm “remains cautious” over second-half trading due to surging costs. The group also reiterated that like-for-like sales would need to rise by 3 per cent to 4 per cent in the new financial year to maintain profits.
A further trading statement is due on July 12th.
Wetherspoon operates five pubs in the Republic – four in Dublin and one in Cork – and recently won planning approval for a “superpub” in the Camden Street area of Dublin. The €4 million development at Camden Hall that also includes a 98-bedroom hotel.