JD Wetherspoon set to unveil solid interims

By John Harrington / March 15, 2018 / www.proactiveinvestors.co.uk / Article Link

Pub chain JD Wetherspoon (LON:JDW) is set to reveal it had a solid first half when it publishes its interim results on Friday.

In a trading update in January, the company said like-for-like sales rose by 6% and total sales increased 4.3% in the first six months of the year.

Thanks to the robust sales growth, Wetherspoon said the year-to-date underlying profit before tax was "slightly ahead" of its expectations.

At the time, chairman Tim Martin once again ranted about how great Brexit will be for the chain, saying he expects prices to fall by an average of 3.5p per meal and 0.5p per drink.

The interims come in the wake of Wetherspoon's meat supplier Russell Hume entering administration in February after production was suspended following an investigation into its food hygiene standards.

Significant announcements expected

Interims: JD Wetherspoon PLC (LON:JDW)

Trading update: Berkeley Group PLC (LON:BKL), Mitie PLC (LON:MTO), Investec PLC (LON:INVP) SThree PLC (LON:STHR)

Finals: Capital Drilling Ltd (LON:CAPD), Cloudbuy PLC (LON:CBUY)

Economic data: BoE Financial Policy Committee meeting statement; EU inflation; US housing starts; US industrial production; University of Michigan consumer sentiment

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