J D Wetherspoon enjoys record sales
By Claire West
In the six weeks to 9 September 2012, like-for-like sales for JD Wetherspoon increased by 8.4%, helped by a strong performance during the Olympic and Paralympic Games.
Tim Martin, the chairman of J D Wetherspoon plc, said:
"I am pleased to report a year of further progress for the company, with record sales, profit and earnings per share before exceptional items.
As previously indicated, the biggest dangers to the pub industry, are the VAT disparity between supermarkets and pubs, combined with the continuing imposition of stealth taxes, such as the late-night levy and the increase in fruit/slot machine taxes.
Sales this summer have been enhanced by a number of one-off events and we do not expect to sustain this level of growth. As previously indicated, it is anticipated that taxation and input costs will continue to rise. Overall therefore, the company is aiming for a reasonable outcome, in the current financial year."