JD Wetherspoon toasts surprise rise in revenue
Friday 13th March 2009, 12:31PM GMT.
Pub chain JD Wetherspoon has bucked the trend of the faltering drinks industry by posting a 6.5 per cent rise in half-year revenue.
The group said in the six months ending January 25th its revenue stood at £468.7 million.
Like-for-like sales rose 1.9 per cent during the same period, while operating profit before exceptional items was up 1.3 per cent to £46.8 million.
“Although the pub industry as a whole is under great pressure from higher taxes and social legislation, as well as a difficult economy, as a result of our strong cashflow, reducing debt and the excellent work of our employees, I remain confident of the company’s future prospects,” said Tim Martin, chairman of the pub chain.
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