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ARM Innovation Hub
24 January, 2007 - 09:30 By Staff Reporter

Wetherspoon's sales up 8.3 per cent in Q2

Watford-based pub group JD Wetherspoon said that its sales were up 8.3 per cent for the second quarter, with strong like-for-like sales compensating for higher energy and labour costs.Like-for-like sales for the first 12 weeks of the second quarter to January 21 increased by 5.5 pct, slightly ahead of market expectations, but sales in January had shown lower growth than in previous months, the firm said.

The company has opened eight pubs during the period, after disposing of three. It anticipates increasing the number of openings to 20, up from nine last year, rising to 30 next year. The announcement saw Wetherspoon's shares rise two per cent, up 12.5p to 676p.

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