Business
Interim Results
J D Wetherspoon PLC reported interim results for the 26 weeks ended 25 January 2026, showing a 5.7% increase in revenue to £1,087.8 million, with like-for-like sales up 4.8%. However, profit before tax decreased by 31.9% to £22.4 million, and operating profit fell by 18.4% to £52.9 million, attributed to increased costs including wages, repairs, and business rates. Basic earnings per share were 15.5p, down from 21.5p in the prior year. The company declared an unchanged interim dividend of 4.0p per share. Despite cost pressures, like-for-like sales in the subsequent seven weeks to 15 March 2026 increased by 2.6%, outperforming the industry average. Disclaimer*
About this update from J D Wetherspoon Plc
[{"type":"text","content":"\n\n20 March 2026\n \nJ D WETHERSPOON PLC\nINTERIM RESULTS\n(For the 26 weeks ended 25 January 2026)\n \n \n\n\n\n\nFINANCIAL HIGHLIGHTS\n\n\nVar %\n\n\n\n\n \n\n\n\n\n\n\n\nBefore separately disclosed items\n\n\n\n\n\n\n\n Like-for-like sales (vs FY2025)\n\n\n+4.8%\n\n\n\n\n Revenue £1,087.8m (2025: £1,029.5m)\n\n\n+5.7%\n\n\n\n\n Profit before tax £22.4m (2025: £32.9m)\n\n\n-31.9%\n\n\n\n\n Operating profit £52.9m (2025: £64.8m)\n\n\n-18.4%\n\n\n\n\n Basic earnings per share 15.5p (2025: 21.5p)\n\n\n-27.9%\n\n\n\n\n Free cash outflow per share (0.1p) (2025: outflow (0.4p))\n\n\n+75.0%\n\n\n\n\n Half year dividend 4.0p (2025: 4.0p)\n\n\n0.0%\n\n\n\n\n\n\n\n\n\n\n\n\nAfter separately disclosed items1\n\n\n\n\n\n\n\n Profit before tax £26.0m (2025: £41.3m)\n\n\n-37.0%\n\n\n\n\n Operating profit £53.0m (2025: £63.0m)\n\n\n-15.9%\n\n\n\n\n Basic earnings per share 18.7p (2025: 27.8p)\n\n\n-32.7%\n\n\n\n\n \n\n\n\n\n\n\n\n \n1Separately disclosed items as disclosed in account note 2.\n\n\n \nCommenting on the results, Tim Martin, the Chairman of J D Wetherspoon plc, said:\n \n\"In the last seven weeks, to 15 March 2026, like-for-like sales increased by 2.6%.\n \n\"The latest 'CGA RSM Hospitality Business Tracker', for February 2026, said industry like-for-like sales were -0.2%. During this period, Wetherspoon like-for-like sales were +3.2%. This was the 42nd month in a row that Wetherspoon has outperformed the tracker.\n \n\"As previously indicated, increases in national insurance and labour rates will result in cost increases of approximately £60 million per annum, and non-commodity energy costs will add £7 million. The 'Extended Producer Responsibility' tax, a levy on packaging will cost £2.4 million in the current year, an increase of £1.6 million. These cost increases will undoubtedly add to underlying inflation in the UK economy, although Wetherspoon, as always, will endeavour to keep price increases to a minimum.\n \n\"There is clearly considerable pressure on consumer finances, combined with higher taxes, wages and energy costs for the hospitality industry. This may result in profits that are sl...