J D Wetherspoon plc Announces Sales Results for the 11 Weeks and 50 Weeks Ended July 10, 2016; Provides Earnings Guidance for the Fiscal Year 2016
In the year to date, like-for-like sales increased by 3.4% and total sales increased by 5.5%.
For the fiscal 2016, operating margin before exceptional items and before a £3.8 million gain on property is expected to be around 6.8%, compared to 7.4% last year. The company remains in a sound financial position. Net debt at the end of this financial year is currently expected to be around £670 million.