Wetherspoon sees profits below market expectations on higher costs
(Il Sole 24 Ore Radiocor) - Milano, 6 mag - The UK pub chain JD Wetherspoon warned that its profits could be "slightly" below market expectations due to "substantial increases" in costs.
Wetherspoon said that like-for-like sales increased by 3.4% year over year in the 13 weeks to April 26, corresponding to its third quarter. Year-to-date like-for-like sales increased by 4.3%.
Total sales increased by 4.1% in the quarter and by 4.9% in the first nine months.
"As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs, which may result in profits slightly below market expectations," said the chairman, Tim Martin.
The company continues to anticipate year-end net debt of.
740-760 million pounds.
(RADIOCOR) 06-05-26 12:57:07 (0402) 5 NNNN