JD Wetherspoon cautious about trading prospects

By Chris Druce

- Last updated on GMT

Related tags: Like-for-like sales growth, Public house, Profit, Jd wetherspoon

JD Wetherspoon is now more cautious about trading in the coming months after a slowdown in sales
JD Wetherspoon is now more cautious about trading in the coming months after a slowdown in sales
JD Wetherspoon is now more cautious about its prospects for the coming months after a further slowdown in like-for-like sales growth in its third quarter

The pub chain, which announced record half-year profits in March, saw like-for-like sales growth decrease by 0.8% (compared with marginal growth in the first half) in the 13 weeks to 25 April 2010.

This means year-to-date like-for-like sales are now down 0.2%, although company sales (which include the boost from new openings) are up 4%.

The company said with sales, profit and cash-flow at the business proving resilient despite recent increases in prices due to tax rises, it had now adopted a more cautious outlook in regards full-year performance.

JD Wetherspoon has opened 26 new pubs this financial year with the closure of two. It now expects 45 new sites to open during the year rather than 50 as previously forecast.

Related topics: Business

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