Wetherspoon (JD) PLC
29 April 2005
JD WETHERSPOON PLC
Press Release
29 April 2005
THIRD QUARTER TRADING UPDATE
Current Trading
Like-for-like sales for the third quarter of our financial year (the thirteen
weeks ended 24 April 2005) decreased by 2.0% (year to date down 0.5%). Overall
sales increased by 2% to £202.9m (year to date up 3% to £606.3m). The net
operating margin for the quarter declined by approximately 1% compared to the
previous year.
Property
During the third quarter we opened 6 pubs, bringing the year to date number of
openings to 12. We are anticipating opening 1 additional pub in the current
financial year. As highlighted as part of our interim results, we have
identified 16 pubs for disposal and agreement has now been reached in principle
on all of these pubs.
Non-Smoking Pubs
We brought forward the conversion of the first batch of existing pubs to
non-smoking to the 9th March (National Non-Smoking Day) and have now converted
11 existing pubs , as well as opening 6 new pubs on this basis. Although it is
early days, trade at the new and converted pubs has been broadly in line with
expectations, although initial indications are that a dip in bar sales and an
increase in food sales puts some pressure on margins. Given the forthcoming
smoking ban in pubs, we will continue with our efforts to maximise sales and
profits at these pubs.
By the end of May we will have approximately 30 non-smoking pubs and we plan to
convert a further 30 in the coming months.
A full list of the current non-smoking pubs is attached.
Outlook
The financial results for the 12 months to the end of July 2005 are currently
expected to be in line with analysts expectations and will be announced in early
September 2005.
Enquiries:
Jim Clarke Finance Director 01923 477777
Eddie Gershon Company Spokesman 0208 352 5012/
07956 392234
Visit our web site at www.jdwetherspoon.co.uk
JD WETHERSPOON PLC - Non-Smoking Pubs
New Openings Existing Conversions
George's Meeting House, Exeter The Old Manor, Bracknell
Waterend Barn, St, Albans Pennsylvanian, Rickmansworth
Abraham Derby, Merry Hill Centre The Back of Beyond, Reading
The Draper's Arms, Peterborough Wetherspoons, Metrocentre, Gateshead
The Ivy Wall, Spalding The Welkin, Liverpool
Dockle Farmhouse, Swindon The King of Wessex, Bath
Moon on the Square, Basildon
The Pommeler's Rest, Tower Bridge
The Sir John Oldcastle, Farringdon
The Good Yarn, Uxbridge
The West Gate Inn, Canterbury
This information is provided by RNS
The company news service from the London Stock Exchange
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