FTSE 100 falls but Wetherspoon boosted by profits rise

From BBC - September 15, 2017

Shares in JD Wetherspoon have jumped 9% after the pub group reported a rise in full-year sales and profits.

In the year to 30 July, profits before exceptional items rose 27.6% to 102.8m with total sales up 4.1% to 1.66bn.

Like-for-like sales - which strip out the impact of pub openings and closures - rose 4%, and are up 6.1% since the start of August.

However, Wetherspoon chairman Tim Martin said the recent pace of sales growth would not continue.

"Comparisons will become more stretching - and sales, which were very strong in the summer holidays, are likely to return to more modest levels," he said.


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