JDW weathers Martin's six-month break

From The Publican

21-Jan-2004

Related topics: Company & City News

Tim Martin has apparently done little travelling during his six month sabbatical from high street pub group JD Wetherspoon.

 

The founder and chairman (pictured) has been on the phone and visiting pubs almost on a daily basis according to colleagues.

 

His absence, or lack of it, has done little to change the group's performance.

 

The company released a trading update last week showing like-for-like sales growth of 4.9 per cent for the 25 weeks to January 18.

 

Total sales grew 11 per cent, down one per cent on the first quarter because of reduced pub openings.

 

JD Wetherspoon held back from big price cuts over the Christmas period, which boosted the group's gross profit margins.

 

The company sold 10 pubs to Alan Bowe's London & Edinburgh Group and disposed of one undeveloped site, for a total book loss of £3.5m. Eight pubs were opened during the 25 weeks.

 

The company said it would continue with its "cautious approach to new sites".

 

Related articles:

 

Rumours fly at JD Wetherspoon (27 October 2003)

 

Wetherspoon boss calls time for six months (29 September 2003)

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