Pub group JD Wetherspoon (JDW) is due to reveal full-year results on 4 October. These are expected to be in line with market expectations according to a pre-close trading statement on 10 July.

Consensus expectations are calling for sales just north of £2 billion for the first time and a pre-tax profit of £72 million, representing year-on-year growth of 5% and 67% respectively.

While achieving record sales is a clear positive, investors will be more focused on seeing continued like-for-like sales growth and comments on the outlook for profitability which has yet to fully recover from the pandemic.

Consensus forecasts for 2025 are calling for 5% growth in sales and pre-tax profit of £84 million.

Fellow pub company Mitchells & Butlers (MAB) recently highlighted (26 September) a continued normalisation of inflationary pressures, which should be a good read-across.

Improving profitability may awaken talk of reinstating the dividend, which has been absent since 2019, although the company opted for a share buyback equating to £40 million in the first half of its financial year to the end of July.

Having spent heavily on expanding its outdoor spaces and gardens since the pandemic, Wetherspoon faces a fresh challenge should the government’s proposal to ban outdoor smoking succeed.

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

4 Oct: Wetherspoon

FIRST-HALF RESULTS

8 Oct: S&U, Angling Direct

TRADING ANNOUNCEMENTS

9 Oct: Marston’s

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