JDW results make way for year of openings

The latest half-year results from J D Wetherspoon have painted a satisfactory picture, as the Tim Martin-led business prepares for a busy year of openings.

In the 25 weeks to 19 January 2025, like-for-like sales were 5.1% higher than the same period a year ago. Bar sales increased by 4.5%, food by +5.6% and slot/fruit machines by +11.7%. However, hotel room sales decreased by 6.5%. 

Like-for-like sales for the last 12 weeks of the 25-week period were 4.6% higher than the same period a year ago, while total sales have grown by 4% in the year to date, slightly less than like-for-like sales due to the sale of six venues during the period. 

Sales for the key Christmas trading period were up 6.1%, slightly lower than other published results, as pub and bar companies enjoyed an average of over 10% in like-for-like growth during the festive season.

Looking forward

In the year-to-date, Wetherspoon has opened two pubs in Marlow, Buckinghamshire, and at London Waterloo station. 

However, the company plans to open a total of nine pubs in the year, including sites at London Bridge station, Fulham Broadway underground station, Manchester Airport, Beaconsfield, Wetherby and Bath. 

In addition, a further four franchised pubs will open at Haven Holiday Parks, bringing the total number of franchises to seven.  

"From 1 April 2025, labour-related costs at Wetherspoon will increase by around £60m per annum," says Martin (pictured). "Government-mandated wage increases have a significantly bigger impact on pub and restaurant companies than supermarkets. 

"As previously highlighted, supermarkets pay no VAT in respect of food sales, whereas pubs pay 20%. Given the public’s love of pubs, the only possible explanation for this tax discrepancy is that prime ministers and other legislators, in the 45 years since Wetherspoon started trading, have been dinner party goers, rather than pub goers.

"The company is confident of a reasonable outcome for the year, although forecasting is more difficult, given the extent of the increased costs."

J D Wetherspoon currently has a trading estate of 796 pubs.

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