J D Wetherspoon’s like for like sales increased 3.4% in the third quarter, compared to 4.3% for the year so far.
The group notes ‘substantial’ cost increases across the industry and sees scope for profit to land slightly below market expectations. Current consensus forecasts point to full-year pre-tax profits falling 10.6% to £73mn.
Year-end net debt guidance of £740-760mn remains unchanged. J D Wetherspoon has bought back around £26mn of shares so far this year.
The shares were flat in early trading.
Our view
HL view to follow.
J D Wetherspoon key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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