Wetherspoon (JD) PLC - Holding Announcement
Wetherspoon notes the comments of Prime Minister
"I believe the government will make a tactical error in resorting to de facto "lockdown".
"The Dutch position (see appendix 1 below) of frankly admitting that most people will get the virus, while protecting the elderly and sick, thereby building up group immunity, is the best path for the
"As scientists have said (see appendix 2 below) lockdown for twelve weeks results in a further breakout of infections in July.
"The difference in keeping the hospitality industry open, even with reduced sales, is colossal (see appendix 3). The industry contributes
"Lockdown delays the inevitable and destroys the tax base at the same time, which will cripple the
"The Prime Minister should show Dutch courage and follow the example of their PM
"The Dutch approach has the additional advantage of being in tune with the robust instincts of the nation. This is evidenced by Wetherspoon sales which have been positive in the last few weeks in spite of storms and health scares.
"The Board continues to plan partially mitigating actions. The Company will announce its interim results on
Appendix 1 - The Dutch Approach,
"Dutch Prime Minister
"Rutte says his government wants to build "group immunity" while waiting for a vaccine, by letting the least vulnerable people catch the virus while protecting the elderly and sick.
"This could take "months, or even longer", he added."
Appendix 2 - Imperial College Modelling, Prof
""We haven't found any way, at least in our understanding of this so far, that we can ever release these [restrictions] unless some other intervention occurs", she said.
"Are we then in a permanent state of outbreak?, she was asked. "That's our current understanding," she said.
"The briefing took place immediately after the Prime Minster spoke.
Appendix 3 - Hospitality Industry Economic Contributions, The Guardian,
Appendix 4 - Contribution to the economy, Extract from JD Wetherspoon 2019 annual report, page 4
"Wetherspoon is proud to pay its share of tax and, in this respect, is a major contributor to the economy. In the year under review, we generated total taxes of
[There is a table, on page 4 of the 2019 JD Wetherspoon annual report, indicating total tax paid by Wetherspoon.]
Notes to editors
1. J D Wetherspoon owns and operates pubs throughout the
2. Visit our website: www.jdwetherspoon.com
3. This announcement has been prepared solely to provide additional information to the shareholders of J D Wetherspoon, to meet the requirements of the
4. This announcement contains inside information on
5. The current financial year comprises 52 trading weeks to
6. The next trading update is expected to be the Company's interim results statement on
This information is provided by RNS, the news service of the
Quick facts: JD Wetherspoon
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