J D Wetherspoon Plc (LON:JDW) has announced its prelimibnary results for the 52 weeks ended 27th July 2025
| FINANCIAL HIGHLIGHTS | Var % |
| Before separately disclosed items | |
| Like-for-like sales (vs FY2024) | +5.1% |
| Revenue £2,127.5m (2024: £2,035.5m) | +4.5% |
| Profit before tax £81.4m (2024: £73.9m) | +10.1% |
| Operating profit £146.4m (2024: £139.5m) | +4.9% |
| Basic earnings per share 50.8p (2024: 48.6p) | +4.5% |
| Free cash inflow per share 47.3p (2024: 26.4p) | +79.2% |
| Full year dividend 12.0p (2024: 12.0p) | |
| . | |
| After separately disclosed items1 | |
| Profit before tax £89.3m (2024: £60.6m) | +47.4% |
| Operating profit £142.2m (2024: £142.6m) | -0.3% |
| Basic earnings per share 60.0p (2024: 40.5p) | +48.1% |
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 28 September 2025, like-for-like sales increased by 3.2%. The latest ‘CGA RSM Hospitality Business Tracker’, for August 2025, said industry like-for-like sales were +0.5%. During this period, Wetherspoon like-for-like sales were +3.7%. This was the 36th month in a row that Wetherspoon has outperformed the tracker.
“As previously indicated, increases in national insurance and labour rates will result in cost increases of approximately £60 million per annum, and non-commodity energy costs will add £7 million. The recently introduced ‘Extended Producer Responsibility’ tax, a levy on packaging, referred to in the table on page 9, will cost £2.4 million in the current year, an increase of £1.6 million. Cost increases such as these will undoubtedly add to underlying inflation in the UK economy, although Wetherspoon, as always, will endeavour to keep price increases to a minimum.
“In appendix 2 and the link within the “Health and pubs” section below, I have written articles which expand on the tax advantages of supermarkets compared to pubs and on questionable dietary advice, including advice about alcohol consumption, which has gained increasing support among academic commentators and legislators. Sensible policies in both these areas are essential for the future well-being of the hospitality industry.
“In the last financial year, Wetherspoon, its customers and employees generated a total of £838 million of taxes for the UK government. The total tax raised by the government in the last financial year was £858.9 billion. Therefore, Wetherspoon generated approximately £1 in every £1,000 of all UK tax revenue. In other words, the country only needs about one thousand companies like Wetherspoon and no one else would have to pay any taxes at all. Wetherspoon is confident that it will provide more tax revenue for the government in the current financial year, while aspiring to increase earnings per share at the same time.
“The company currently anticipates a reasonable outcome for the financial year, although government-led cost increases in areas such as energy may have a bearing on the outcome.”
