Like-for-like sales at JD Wetherspoon increased by 5.6% in the 13 weeks to 27th April, compared to the same period last year, the company has announced. Year-to-date (YTD) like-for-like sales increased by 5.1%.
Total sales increased by 5% in the quarter and by 4.2% YTD. Total sales are slightly less than like-for-like sales as a result of a small number of pub disposals.
The company currently operates 795 venues. So far this year, it has opened two and closed seven.
An additional seven pubs now operate under a franchise agreement, four of which opened during the last quarter. All are operated by Haven Holiday Parks. They are: The Red Rocks, Devon Cliffs, Devon; The Humber Stone, Cleethorpes Beach, Lincolnshire; The London Stone, Kent Coast, Kent; and The Sir Thomas Haggerston, Haggerston Castle, Northumberland.
“The company’s main ambition, as always, is to improve its appeal to staff and customers,” said chairman Tim Martin. “In this connection, for example, the company has invested in new staff facilities in 520 pubs (49 in the current year), including staff rooms and changing rooms, with approximately 270 planned for the future. The investment per pub is approximately £100,000.
“The product range for customers continues to evolve. For example, the company has recently introduced, nationwide, the highly regarded Jaipur traditional ale from the Thornbridge Brewery, as well as renowned international beer brands, Kronenbourg 1664 Biere and Poretti.
“As regards the menu, new initiatives include a gourmet burger offer, which has proved extremely popular in the pubs in which it has been trialled.
“Bearing in mind that recent trading has been helped by favourable weather, the company anticipates a reasonable outcome for the financial year, notwithstanding previously reported wage and tax increases of approximately £1.2 million per week.”
Investment for Star Pubs
Heineken is to invest £40m in its Star Pubs group, creating some 1,000 jobs. More than 100 pubs will be refurbished, but the plan will also see the re-opening of ten venues.
“Major refurbishments will make-over pubs with stylish, comfortable, and welcoming décors, designed to entice pubgoers and cater for a wide range of customers and occasions,” the company said in a statement.
“Every project will be sympathetic to the building and its history, retaining and preserving original features.” it added.
Punch trading update
Punch Pubs expects Ebitda (earnings before interest, taxes, depreciation, and amortisation) to pass £100m in the current financial year. The company was giving a trading update for the 28 weeks to 23rd February.
Total revenue for the 28 weeks was £168.3m, compared to £165.1m in the similar prior year period. During the 28-week period this year, the group has spent £12.5m on the acquisition of 20 pubs.
