Wetherspoon chairman Tim Martin expressed optimism about the pub chain’s bottom line, saying he expected a “reasonable result” for the current financial year.
JD Wetherspoon has reported a significant financial achievement with total revenues exceeding £2 billion. This is related to a 7.6 percent increase in comparable sales.
The pub chain’s profit before tax was £73.9m for the 52 weeks ending 28 July 2024.
JD Wetherspoon’s pub count currently stands at 800, down from its 879 pubs in 2019. Despite this reduction, chairman Tim Martin remains optimistic and reiterates his belief that the business has the potential to expand to 1,000 in the future.
Recent openings include Captain Flinders near Euston Station, Lion and Unicorn at Waterloo Station, Star Light at Heathrow Airport and Grand Assembly at Marlow.
Chairman Tim Martin said that in the last nine weeks to 29 September 2024, JD Wetherspoon’s like-for-like sales increased by 4.9%.
“The company currently expects a reasonable result for the current financial year based on the development of our future sales,” he said.
