J D Wetherspoon (GB:JDW) has released an update.
J D Wetherspoon PLC has reported a 5.8% increase in like-for-like sales over the past 10 weeks and a 7.7% increase year-to-date, with a strategic move of opening two new pubs and closing 26, resulting in a net cash inflow of £8.7 million. The company has signed a new £840 million banking agreement and expects net debt to be around £670 million by the end of the financial year. Despite significant increases in operating costs, they forecast profits to align with market expectations, driven by record sales levels and higher sales per pub since the pandemic.
For further insights into GB:JDW stock, check out TipRanks’ Stock Analysis page.
