JDW sees £46m loss in half year results

By Nikkie Thatcher

- Last updated on GMT

Trading update: the results covered 26 weeks to 24 January 2021 (image: Getty/ Frederica Aban)
Trading update: the results covered 26 weeks to 24 January 2021 (image: Getty/ Frederica Aban)

Related tags: Jd wetherspoon, Managed pub estate, Pubco + head office, Finance

Pub giant JD Wetherspoon (JDW) has reported a £46.2m loss in revenue for the 26 weeks ending 24 January 2021, in its preliminary results.

The almost 900-strong operator saw revenue slide by half (53.8%) to £431.1m compared to £933m in 2020 with like-for-like sales seeing a similar drop (53.9%).

It also reported an operating loss before exceptional items of £20.7m, which followed a profit of £76.6m in 2020.

JDW chairman Tim Martin criticised restrictions the Government has placed on pubs amid the coronavirus pandemic.

No real basis

He said: “JDW and its employees, along with the hospitality industry, have worked very hard to comply with ever-changing Government guidelines.

“It is disappointing so many regulations, implemented at tremendous cost to the nation, appear to have had no real basis in common sense or science – for example curfews, ‘substantial meals’ with drinks and masks for bathroom visits.

“The future of the industry and of the UK economy, depends on a consistent set of sensible policies and the ending of lockdowns and tier systems, which have created economic and social mayhem and colossal debts with no apparent health benefits.”

This follows JDW announcing plans to reopen almost half (45%) of its estate for outside trading​ from 12 April.

Beer gardens, roof top gardens and patios at 394 of its sites in England will be open from 9am until 9pm Sunday to Thursday and 9am to 10pm on Friday and Saturday.

Reopening rules

The Government's roadmap will allow pubs to trade outside only, with the rule of six and table service in place.

However, some JDW venues have restrictions on closing times and in those cases, will be shut earlier.

The food offer will be slightly reduced and will include breakfast, burgers, pizza, deli deals, fish and chips alongside British classics, which will be available from 9am to 8pm every day.

Customers will be able to order and pay for their drinks and meals through the JDW app but staff will also be able to take orders and payments at the table for guests who do not have the app.

A booking system will not be in place and customers will be able to access the outside area and use the toilet.

The pubs will also have Test and Trace in place alongside hand sanitisers available throughout the sites.

Related topics: JD Wetherspoon

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