JD Wetherspoons (JDW) has released its pre-close statement for the financial year up to 26 July 2015. Reports indicate that the full year profit is unlikely to be higher than last financial year’s figure of £79.4m. The operating margin in the 11 weeks to 12 July 2015 was 7.0%, compared with 8.3% in the same 11 weeks last year.
The company has recently opened 26 new pubs and disposed of six since the start of the financial year. There are nine new bars under development and plans of opening around 30 venues within the current financial year. JDW also recently announced that they intend to sell 20 pubs which no longer fit the company’s requirements.