J D Wetherspoon plc (LON:JDW) has announced its interim results for the 26 weeks ended 25 January 2026
| FINANCIAL HIGHLIGHTS | Var % |
| Before separately disclosed items | |
| Like-for-like sales (vs FY2025) | +4.8% |
| Revenue £1,087.8m (2025: £1,029.5m) | +5.7% |
| Profit before tax £22.4m (2025: £32.9m) | -31.9% |
| Operating profit £52.9m (2025: £64.8m) | -18.4% |
| Basic earnings per share 15.5p (2025: 21.5p) | -27.9% |
| Free cash outflow per share (0.1p) (2025: outflow (0.4p)) | +75.0% |
| Half year dividend 4.0p (2025: 4.0p) | 0.0% |
| After separately disclosed items1 | |
| Profit before tax £26.0m (2025: £41.3m) | -37.0% |
| Operating profit £53.0m (2025: £63.0m) | -15.9% |
| Basic earnings per share 18.7p (2025: 27.8p) | -32.7% |
1Separately disclosed items as disclosed in account note 2.
Commenting on the results, Tim Martin, the Chairman of J D Wetherspoon plc, said:
“In the last seven weeks, to 15 March 2026, like-for-like sales increased by 2.6%.
“The latest ‘CGA RSM Hospitality Business Tracker’, for February 2026, said industry like-for-like sales were -0.2%. During this period, Wetherspoon like-for-like sales were +3.2%. This was the 42nd 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 ‘Extended Producer Responsibility’ tax, a levy on packaging will cost £2.4 million in the current year, an increase of £1.6 million. These cost increases will undoubtedly add to underlying inflation in the UK economy, although Wetherspoon, as always, will endeavour to keep price increases to a minimum.
“There is clearly considerable pressure on consumer finances, combined with higher taxes, wages and energy costs for the hospitality industry. This may result in profits that are slightly below current market expectations. The forecast for year-end net debt remains unchanged.”
Notes to editors
1. J D Wetherspoon owns and operates pubs throughout the UK. The Company aims to provide customers with good-quality food and drink, served by well-trained and friendly staff, at reasonable prices. The pubs are individually designed and the Company aims to maintain them in excellent condition.
2. Visit our website jdwetherspoon.com
3. The financial information set out in the announcement does not constitute the company’s statutory accounts for the periods ended 26 July 2026 or 27 July 2025. The financial information for the period ended 27 July 2025 is derived from the statutory accounts for that year which have been delivered to the Registrar of Companies. The auditors have reported on those accounts: their report was unqualified and did not contain a statement under section 498(2) or (3) of the Companies Act 2006. Statutory accounts for 2026 will be delivered to the registrar of companies in due course. This announcement has been prepared solely to provide additional information to the shareholders of J D Wetherspoon, in order to meet the requirements of the UK Listing Authority’s Disclosure and Transparency Rules. It should not be relied on by any other party, for other purposes. Forward-looking statements have been made by the directors in good faith using information available up until the date that they approved this statement. Forward-looking statements should be regarded with caution because of inherent uncertainties in economic trends and business risks.
4. The annual report and financial statements 2025 has been published on the Company’s website on 3 October 2025.
5. The current financial year comprises 52 trading weeks to 26 July 2026.
6. The next trading update will be issued on 6 May 2026.
