Wetherspoons enjoys growth in Q3

JD Wetherspoon has posted its Q3 trading update for the 13-week period up to 28 April 2019, which shows like-for-like sales increased by 7.6%m and total sales increased by 8.4%.

Year-to-date like-for-like sales have risen by 6.8% and total sales saw growth of 7.6%.

Since the start of the financial year, the company has opened three new pubs and closed seven. The group intends to open two further pubs in the current financial year.

In the current financial year to date, Wetherspoon's has spent £70.9m on buying the freeholds of pubs of which its was previously tenants.

The company remains in a sound financial position. The net debt at the end of the quarter was £746m and is expected to be around £740m at the end of the financial year.

Chairman Tim Martin (pictured), said, 'We continue to anticipate a trading outcome for this financial year in line with our previous expectations.'