Sales flat at JD Wetherspoon

Start a new threadBy Ewan Turney , 04-Nov-2009

Related topics: General News, Company & City News

JD Wetherspoon: opened seven pubs in the quarter

JD Wetherspoon: opened seven pubs in the quarter

JD Wetherspoon has reported a small increase in like-for-like sales for the 13 weeks to 25 October.

 

The managed operator reported a 0.3% uplift in like-for-likes with total sales up 4.5% on last year.

 

"The same period last year involved a higher level of marketing expenditure, including the distribution of money-off vouchers to most households in the UK," it said.

 

Wetherspoon repaid its US$140m (£87m) private placement on 30 September from cash flow and remaining facilities.

 

It plans to commence formal discussions for the refinancing of its main £45m facility, which expires in December 2010, by the end of this calendar year.

 

JDW opened seven new pubs in the quarter and it remains on target to open 40 by the end of the year.

 

"We remain confident of the Company's prospects for the financial year ending July 2010," it said.

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