Revenues up for pubs giant

PUB company JD Wetherspoon has reported an increase in revenues and pre-tax profits in its most recent financial results.

The figures, which cover the 52 weeks to July 24, recorded revenues of £1,595 million, up from £1,513m in 2015, with like-for-like sales up 3.4% and pre-tax profits (after exceptional items) increasing from £58.7m to £66m.
Operating profit, after exceptional items, rose from £106.5m to £109.7m in the course of the year.
During the financial year Wetherspoon opened 16 pubs, including The Booking Office at Edinburgh’s Waverley Station (pictured right), and sold or closed 41, bringing the total estate to 926 across the UK, 71 of which are in Scotland.
“I am pleased to report a year of progress for the company, with record sales, profit and earnings per share before exceptional items,” said Wetherspoon chairman Tim Martin.