.

Tanker needs to spend more on his lunches! :-)

I agree, ordering food will benefit him -):

Talking about food/Wetherspoon we were desperate for some food in Mold the other week so gave the local Spoons a try. Surprisingly we were very impressed (and I'm someone who does like "Good" Food. Had the same very surprising positive same experience at a Marston Pub/Hotel a couple of months back.

A mate of mine has said similar - he is a bit of pub grub man and says that our local spoon has improved no end since the spring. As to the Marstons experience, they are my current play in the sector.

InterimManagement Statement

Current trading

In the first quarter (13 weeks to 28 October 2012), like-for-like sales increased by 7.1% and total sales increased by 11.1%, helped by a strong performance during the Olympics and Paralympic games. We do not expect this level of sales growth to be sustained for the rest of the financial year.

The operating margin was 8.6%, approximately 0.4% lower than the last financial year, due to increases in costs in areas such as tax, utilities, labour and bar and food supplies, combined with increased marketing costs.

You've got to hand it to them. Love 'em or loath 'em, they are very good at adapting to a changing market and are offering punters a reasonable range of products. It may not be the top end of the pub offerings, but my local (city centre) JDW is often jammed packed with all ages spending money.

Harry - I agree - although they always seem less than salubrious - especially after dark!

My play on the sector is MARS, but I have held/traded JDW several times over the years.

Similar chart, but a better yield.

Up another 2% today on £200k of trades.

Looking to go long here tomorrow, ideally @ 520.0.

Got in on the spreads @ 523.0 just a wee punt (Rolling Daily) Stop @ 515.0

Stop to entry for risk free trade.

Stopped out at open ridiculous spread (slippage) @ 519.2 - 3.8

Bad luck Chris - JDW is often very gappy 1st thing.

Win some lose some skinny :O)

Another one that looks to have got away :O( Look again in Jan. 16th interim management statement, 15th March Interim results.

Pre-Close Statement

Current trading

For the first eleven weeks of the second quarter (to 13 January 2013), like-for-like sales increased by 8.0%. Total sales increased by 11.3%. In the year to date (24 weeks to 13 January 2013), like-for-like sales increased by 7.6% and total sales increased by 11.2%.

We currently expect the operating margin for the half year ending 27 January 2013 to be around 8.2%, approximately 1.1% lower than the last financial year, due to slightly higher than expected increases in costs in areas such as tax, utilities, labour and bar and food supplies, combined with increased marketing costs.

We anticipate the Company's corporation tax rate for this financial year to be around 27.5%.

Half Yearly report

FINANCIAL HIGHLIGHTS



Ÿ Revenue £626.4m (2012: £569.4m) +10.0%

Ÿ Like-for-like sales +6.9%

Ÿ Operating profit £52.1m (2012: £53.1m)-2.0%

Ÿ Profit before tax & exceptional items £34.8m (2012: £35.8m) -2.7%

Ÿ Earnings per share 20.8p (2012: 20.2p) +3.0%

Ÿ Interim dividend 4.0p (2012: 4.0p) Maintained

Interim Management Statement

Current trading

For the 13 weeks to 28 April 2013, like-for-like sales increased by 6.3% and total sales increased by 9.3%. In the year to date (39 weeks to 28 April 2013), like-for-like sales increased by 6.7%, and total sales increased by 10.1%. We expect lower like-for-like sales in the final quarter of this financial year than for the year so far, given last year's final quarter like-for-like sales of 6.1%.

The operating margin, in the 13 weeks to 28 April 2013, was 8.5%, compared with 8.3% in the first half of the current financial year. In the year-to-date (39 weeks to 28 April 2013) the operating margin was 8.4%.

Property

The Company has opened 16 new pubs and sold two since the start of the financial year. We have several sites under development and, in line with our last update, intend to open 30 pubs in the current financial year. It is our present intention to open approximately 20 to 25 pubs in the following financial year.

Financial position

There have been no other significant changes in the Company's overall financial position, since the publication of the interim accounts on 15 March 2013.

Outlook

As previously indicated, the biggest dangers to the pub industry are the VAT disparity between supermarkets and pubs and the continuing imposition of stealth taxes such as the late-night levy and increased fruit/slot machine taxes. However, the company welcomes the recent abolition of the duty escalator and the reduction in beer duty, and hopes that this indicates a greater appreciation from politicians of the important economic and social role played by pubs. Notwithstanding the recent changes, we anticipate that taxation and input costs will continue to rise.

Investec Buy 606.50 550.00 660.00 Retains

Pre-Close Statement

Current trading

For the 11 weeks to 14 July 2013, like-for-like sales increased by 3.5% and total sales increased by 6.2% - a better than expected performance. In the year to date (50 weeks to 14 July 2013), like-for-like sales increased by 6.0%, and total sales increased by 9.2%.

The operating margin was 9.5% in the 11 weeks to 14 July 2013, including some one-off benefits, and 8.7% in the year-to-date (50 weeks to 14 July 2013). We view the year-to-date margin as a possible indicator for the future, if we were to achieve reasonable sales growth.

Property

The Company has opened 29 new pubs and sold three since the start of the financial year. In our final results announcement, we intend to provide an update on any impairment and onerous lease provisions. It is our present intention to open around 30 pubs in the following financial year.

Financial position

The Company remains in a sound financial position.

Outlook

As previously indicated, the company warmly welcomes the reduction in beer duty announced in the March budget (but overall excise duty increased). However, the late night levy, machine gaming duty and business rates taxes have increased, as well as pension costs (see note 6). Continued progress in sales will be required in order to overcome these costs.The biggest dangers to the pub industry are the VAT disparity between supermarkets and pubs and the continuing imposition of stealth taxes.

We are now on track to achieve a slightly better outcome (before any exceptional items) for the current financial year than previously anticipated.