Wetherspoon reports slower sales growth, plans up to 25 sites

JD Wetherspoon reported strong sales growth over the 14 weeks to November 1, but said the pace eased in the latest five weeks as it maintained confidence in current profit expectations and outlined plans to add up to 25 sites over the coming year. Like-for-like sales rose 8.2% across the 14-week period, according to the company. Growth was 7.5% in the latest five weeks, compared with 8.6% during the preceding nine weeks. Bar sales increased 9.4% and food sales 6.8% over the full period, figures reported by the company. Chairman Tim Martin said the pub group was comfortable with market expectations of £76.4 million in profit for a 53-week financial year. He cautioned that forecasts depended heavily on the level of sales growth, with three quarters of the financial year still to come. The company plans to open five to 10 managed pubs and add 10 to 15 franchised sites over the coming year, according to its update. It said it had already opened six managed pubs in the new financial year, including locations at Manchester and Heathrow airports, as well as sites in Crewe, Ferndown, Dibden Purlieu and Kempston. The latest sales figures follow a prior financial year in which...