Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

JD Wetherspoon’s to report on Friday

JD Wetherspoon will report its full-year figures on Friday 12 September. The consensus is for revenue of £1.4 billion and an operating profit of £115 million.

A Wetherspoon's pub
Source: Bloomberg

Wetherspoon is trading at £7.49 and its share price has dropped 10% since its half-year announcement in March, when the pub chain operator reported a 3.2% rise in pre-tax profits of £36 million. The company stated it is ‘reasonably’ confident in achieving its full-year target.

The pub chain operator gave a downbeat trading update in July and England’s early exit from the World Cup, along with Andy Murray’s sooner-than-expected departure from Wimbledon, impacted sales. Wetherspoon does not normally have TV on its premises, but screens were showing the live sporting events despite the company not usually attracting sports fans.

The cost of running its pubs until 1am has seen Wetherspoon decide to close at midnight on Fridays and Saturdays, as the late-licence fee carries a charge of roughly £4000 per year.

Analysts are bullish on JD Wetherspoon and out of the 16 recommendations, seven are buys, eight are holds and only one is a sell rating.

The stock has been receiving support from the 100-week moving average of £6.87, and impressive results could see the stock hit the £7.89 level.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.