Wetherspoon (JD) PLC
02 November 2006
JD WETHERSPOON PLC
Press Release
2 November 2006
FIRST QUARTER TRADING UPDATE
Current Trading
Like-for-like sales in the thirteen weeks ended 29 October 2006 increased by
9.2% compared to a decline of 0.9% in the equivalent period a year ago. Total
sales increased by 9.7% to £220.4 million.
Non-Smoking Pubs
The company currently has 56 non-smoking pubs in England and Wales, comprising
19 new openings and 37 conversions. The majority (35) of the converted pubs have
now reached their first anniversary as non-smoking outlets which affects the
like-for-like sales trends. The England and Wales non-smoking pubs had
like-for-like sales increases during the first quarter of 11.8%. On a two year
basis, which compares the pubs to a period prior to conversion to non-smoking,
the like-for-like sales increases for the 13 weeks were 2.2%.
The 39 non-smoking pubs in Scotland have had an encouraging start to the new
financial year with like-for-like sales increases of 5.2%. As we have previously
stated, it may be too early to judge the longer term impact of non-smoking in
Scotland, and conditions may be more testing in the winter months.
Outlook
The company has traded well in Q1. As previously highlighted, October saw an
increase in underlying costs, primarily relating to labour and power, and the
full impact of these cost increases will be felt in the course of the remainder
of the financial year.
We expect to announce our interim pre-close statement towards the end of January
2007 and our interim results in the early part of March 2007.
Enquiries:
John Hutson Chief Executive 01923 477777
Jim Clarke Finance Director 01923 477777
Eddie Gershon Company Spokesman 0208 352 5012/07956 392234
Visit our web site at www.jdwetherspoon.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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