J D Wetherspoon plc (LON:JDW) has announced its preliminary results for the 52 weeks ended 26th July 2026
| FINANCIAL HIGHLIGHTS | Var % |
| Before separately disclosed items | |
| Like-for-like sales (vs FY2025) | +4.2% |
| Revenue £2,238m (2025: £2,127.5m) | +5.2% |
| Profit before tax £58.6m (2025: £81.4m) | -28.0% |
| Operating profit £120.2m (2025: £146.4m) | -17.9% |
| Basic earnings per share 42.4p (2025: 50.8p) | -16.6% |
| Free cash inflow per share 92.4p (2025: 47.3p) | +95.3% |
| Full year dividend 12.0p (2025: 12.0p) | |
| After separately disclosed items1 | |
| Profit before tax £77.7m (2025: £89.3m) | -13.0% |
| Operating profit £120.6m (2025: £142.2m) | -15.2% |
| Basic earnings per share 59.5p (2025: 60.0p) | -0.8% |
1Separately disclosed items as disclosed in account note 3.
Commenting on the results, Tim Martin, the Chairman of J D Wetherspoon plc, said:
“In the last nine weeks, to 27 September 2026, like-for-like sales increased by 8.6%, helped, no doubt, by exceptional weather.
The company has made substantial progress in recent years in increasing the number of beer gardens and outside seating areas.
This has resulted in sales improving in hot weather whereas, in the past, sales sometimes declined.
The latest ‘NIQ RSM Hospitality Business Tracker’, for August 2026, said industry like-for-like sales were +0.8%. During this period, Wetherspoon like-for-like sales were +7.7%. This was the 48th month in a row that Wetherspoon has outperformed the tracker.
The hospitality industry, as many commentators and companies have noted, has borne the brunt of government-led tax and regulatory cost increases, especially in the last two budgets. This has resulted in pubs becoming even more expensive than supermarkets, leading to job losses, closures and high street dereliction.
It is to be hoped that the powers-that-be will refrain from any further increases, since pubs and restaurants pay around 40% of their receipts as taxes of one sort or another – and provide immense financial support to the Treasury, as well as social support to the community.
In addition, as Jacques Borel, Tom Kerridge and multifarious individuals and organisations have noted, including, indeed, the Prime Minister and other party leaders, VAT is the main culprit in the disparity with supermarkets – and the hospitality industry will not be able to survive or thrive unless taxes and other costs are equalised.
Wetherspoon has made a good start to the financial year, although it is at least partially due to weather, which will inevitably revert to the norm. At this early stage, we continue to anticipate profit before tax and separately disclosed items in line with current market expectations1.”
1Company compiled consensus for FY27 profit before tax and separately disclosed items is £74 million.
