Wetherspoon's LFL sales shift into reverse

Like-for-like (LFL) sales in the first half of its financial year rose 2.1% on a year-on-year basis at pubs group JD Wetherspoon, but the group confessed that trading in the six weeks to 4th March has been disappointing, with LFL sales declining 0.7%.

Like-for-like (LFL) sales in the first half of its financial year rose 2.1% on a year-on-year basis at pubs group JD Wetherspoon, but the group confessed that trading in the six weeks to 4th March has been disappointing, with LFL sales declining 0.7%.

"As previously stated, we expect the operating profit margin before exceptionals to decline in the second half of this financial year due to continuing cost increases, with the current quarter particularly affected. We are, therefore, slightly more cautious about the potential outcome for the current financial year," revealed Tim Martin, JD Wetherspoon's Chairman.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.