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JD Wetherspoon sees rugby world cup boost

By BFN News | 07:22 AM | Wednesday 04 November, 2015


Pub group JD Wetherspoon's like-for-like sales increased by 2.4% and total sales increased by 6.1 in the 13 weeks to 25 October. The group says sales have been slightly higher in the last 6 weeks, which has coincided with the Rugby World Cup. The operating margin in the 13 weeks to 25 October was 6.2%, compared with 7.7% in the same 13 weeks last year. The lower margin was due to increases in the starting rates for hourly paid staff in October 2014 and August 2015, which totalled approximately 13%. The company has opened 3 new pubs since the start of the financial year and has sold 1. It intends to open approximately 15 pubs in the current financial year. It adds: "Following a review of our pubs, as previously reported, the company offered 20 leasehold pubs for sale and is now considering a small number of freehold disposals in the course of the financial year." Story provided by StockMarketWire.com

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