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JD Wetherspoon PLC on Wednesday reported an increase in its first quarter sales. The Watford, Hertfordshire-based pub chain said like-for-like sales rose 5.2% in the 13 weeks to April 28 from a year earlier, while year-to-date like-for-like sales rose by 8.3%. Total sales increased by 3.3% in the quarter and by 6.5% in the year-to-date, it added. Looking ahead, JD Wetherspoon said it expects profits in the current financial year to be ‘towards the top of market expectations’. Chair Tim Martin said: ‘Sales in the period continued the steady recovery from the pandemic. Traditional ales, which were very slow in the aftermath of the lockdowns, are increasing momentum, with Abbot Ale, Ruddles Bitter and Doom Bar showing good growth, as indeed are ales from the many small and micro brewers with which we trade.’ Shares in JD Wetherspoon rose 2.7% to 747.00 pence each in London on Wednesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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