Business
Preliminary results - replacement announcement
Preliminary results - replacement announcement.
About this update from J D Wetherspoon Plc
[{"type":"text","content":"\n \nRNS Number : 3132R Wetherspoon (JD) PLC 20 September 2017 \n\nCorrection: Preliminary Results\n \nFurther to RNS No. 8252Q released on 15 September 2017, J D Wetherspoon plc advises that the company has sold, or terminated the leases of, 76 pubs in the last 2 years, at a loss of approximately £45m, not 127 pubs at a loss of approximately £55m as previously stated. A revised results statement with this amendment is set out below.\n \n \n15 September 2017\n \nJ D WETHERSPOON PLC\nPRELIMINARY RESULTS\n(For the 53 weeks ended 30 July 2017)\n \n\n\n\n\nFINANCIAL HIGHLIGHTS\n\n\nVar%\n\n\nVar%**\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBefore exceptional items\n\n\n\n\n\n\n\n\n\n\nŸ Revenue £1,660.8m (2016: £1,595.2m)\n\n\n+4.1%\n\n\n+1.9%\n\n\n\n\nŸ Like-for-like sales\n\n\n+4.0%\n\n\n\n\n\n\n\nŸ Profit before tax £102.8m (2016: £80.6m)\n\n\n+27.6%\n\n\n+25.3%\n\n\n\n\nŸ Operating profit £128.5m (2016: £109.7m)\n\n\n+17.1%\n\n\n+15.1%\n\n\n\n\nŸ Earnings per share (including shares held in trust) \n69.2p (2016: 48.3p)\n\n\n+43.3%\n\n\n\n\n\n\n\nŸ Free cash flow per share 97.0p (2016: 76.7p)\n\n\n+26.5%\n\n\n\n\n\n\n\nŸ Full year dividend 12.0p (2016: 12.0p)\n\n\nMaintained\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAfter exceptional items*\n\n\n\n\n\n\n\n\n\n\nŸ Profit before tax £76.4m (2016: £66.0m)\n\n\n+15.6%\n\n\n+13.7%\n\n\n\n\nŸ Operating profit £128.5m (2016: £109.7m)\n\n\n+17.1%\n\n\n+15.1%\n\n\n\n\nŸ Earnings per share (including shares held in trust) \n50.4p (2016: 43.4p)\n\n\n+16.1%\n\n\n\n\n\n\n\n \n* Exceptional items as disclosed in account note 4.\n** Excluding week 53.\n \n \nCommenting on the results, Tim Martin, the Chairman of J D Wetherspoon plc, said:\n \n\"Most 'PLCs' are expected to comment, in their results' statements, on the UK's prospects outside of the EU and on the likely impact on their individual companies.\n \n\"It is my view that the main risk from the current Brexit negotiations is not to Wetherspoon, but to our excellent EU suppliers - and to EU economies. \n \n\"As the public instinctively understands, but few academics, economists, boardrooms and City institutions grasp, democracy is the strongest economic steroid - hence the astonishing rise of countries like Japan, Singapore and S...