JD Wetherspoon PLC (LSE:JDW) boss Tim Martin told investors he’s expecting “a reasonable outcome” for its financial year.
The British pub operator reported a 5.6% rise in like-for-like sales for the 13 weeks to 27 April 2025.
Year-to-date like-for-like sales rose 5.1%, while total sales were up 5% for the quarter.
Two new pubs opened in the period, and seven were sold. It also acquired seven freehold reversions, at a cost of £17 million.
Currently, there are 795 Wetherspoon pubs, and the firm plans to open up to five more by year-end.
It said year-end net debt is expected between £720 million and £740 million, with £200 million headroom remaining under its existing facilities.
"Bearing in mind that recent trading has been helped by favourable weather, the company anticipates a reasonable outcome for the financial year, notwithstanding previously reported wage and tax increases of approximately £1.2 million per week,” Wetherspoon chair Martin said in Wednesday's trading update.