January 24, 2018 / 7:21 AM / 9 months ago

BRIEF-J D Wetherspoon Says Q2 ‍like-For-Like Sales Increased By 6.0 Pct

Jan 24 (Reuters) - J D Wetherspoon Plc:

* Q2 ‍LIKE-FOR-LIKE SALES INCREASED BY 6.0% AND TOTAL SALES BY 4.3%

* ‍AS A RESULT OF BETTER-THAN-EXPECTED SALES, YEAR-TO-DATE UNDERLYING PROFIT BEFORE TAX IS SLIGHTLY AHEAD OF OUR EXPECTATIONS​

* ‍INTEND TO OPEN APPROXIMATELY 10 PUBS IN CURRENT FINANCIAL YEAR​​

* ‍NET DEBT, AT END OF FINANCIAL YEAR, IS CURRENTLY EXPECTED TO BE AROUND £30M HIGHER THAN LEVEL AT LAST FINANCIAL YEAR END​

* ‍IN YEAR TO DATE (25 WEEKS TO 21 JANUARY 2018), LIKE-FOR-LIKE SALES INCREASED BY 6.0% AND TOTAL SALES BY 4.3%​

* ‍NET DEBT, AT END OF THIS FINANCIAL YEAR, IS CURRENTLY EXPECTED TO BE AROUND £30M HIGHER THAN LEVEL AT LAST FINANCIAL YEAR END​

* ‍IN YEAR TO DATE (25 WEEKS TO 21 JANUARY 2018), LIKE-FOR-LIKE SALES INCREASED BY 6.0% AND TOTAL SALES BY 4.3%​

* ‍CURRENTLY ANTICIPATE A SLIGHTLY IMPROVED TRADING OUTCOME FOR THIS FINANCIAL YEAR​

* ‍”WE FACE SIGNIFICANT COSTS IN SECOND HALF IN AREAS WHICH INCLUDE LABOUR, BUSINESS RATES AND SUGAR TAX”​

* ‍”WE CURRENTLY ANTICIPATE A SLIGHTLY IMPROVED TRADING OUTCOME FOR THIS FINANCIAL YEAR”​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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