Annual revenue & profit rises at JD Weatherspoon

JD Wetherspoon has posted results for the 52 weeks ended 24 July 2016 showing revenue of £1,595.2m (2015: £1,513.9m).

For the period, the firm saw profit before tax rise to £80.6m (2015: £77.8m), and operating profit decrease to £109.7m (2015: £112.5m)

Chairman Tim Martin said, “I am pleased to report a year of progress for the company, with record sales, profit and earnings per share before exceptional items.

“Since the year end, Wetherspoon’s sales have continued to be encouraging and increased by 4.1%. Despite this positive start, it remains to be seen whether this will continue over the remainder of the year, given the strong like-for-like sales in the last financial year and what remains a very low-inflation environment.

“We will provide updates as we progress through the year, but we currently anticipate a slightly improved trading outcome for the current financial year, compared with our expectations at the pre-close stage.”