JD Wetherspoon's good news

Increasing optimism about the economy helped pub chain JD Wetherspoon to better-than-expected revenues

JD Wetherspoon have achieved better-than-expected revenues
JD Wetherspoon have achieved better-than-expected revenues

Increasing optimism about the economy helped pub chain JD Wetherspoon to better-than-expected revenues .

Like-for-like sales rose 3.5% in the 11 weeks to July 14 and the company said it was now in place to achieve a slightly better outcome for the financial year due to end this month. Shares rose more than 5%.

The figures cover a period beginning in April when it emerged that the UK had not entered an unprecedented triple-dip recession.

Wetherspoon’s said year-to-date like-for-like sales were up 6%. It is due to announce results for the year to July 28 in September. Shore Capital upgraded its full-year pre-tax profit expectations by £3.5m to £76.1m.

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