J D Wetherspoon (GB:JDW) has released an update.
J D Wetherspoon has reported a positive trading update with like-for-like sales rising by 5.2% in the past 13 weeks and a year-to-date increase of 8.3%. The company has also seen a net cash inflow of £6.8 million from the disposal of 18 pubs, with its current trading estate standing at 809 pubs. The chairman, Tim Martin, anticipates profits to be at the higher end of market expectations, bolstered by a recovery in traditional ales, trendy beverages among the youth, and a well-received new menu.
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