JDW released its Q2 ‘trading update’ for the 12 weeks ended 17 January 2016 with stronger lfl revenue growth of 3.3% (2.1% in Q1 FY15-16 and 2.8% for H1) and total revenue up by 6.3% (6.1% in Q1 FY15-16 and 6.1% for H1). Increases in wages (hourly wages increased by 13% since October 2014) will, however, weigh on margins; the company expects an H1 FY15-16 operating margin of c.6.3% (vs 7.4% in H1 FY14-15 and vs our annual estimate of 6.6%). JDW closed two pubs in H1 FY15-16 and ha
28 Jan 2016
LFLs improve but no respite at the margin level
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LFLs improve but no respite at the margin level
J D Wetherspoon plc (JDW:LON) | 735 -3.7 (-0.1%) | Mkt Cap: 908.3m
- Published:
28 Jan 2016 -
Author:
Nishant Choudhary -
Pages:
2
JDW released its Q2 ‘trading update’ for the 12 weeks ended 17 January 2016 with stronger lfl revenue growth of 3.3% (2.1% in Q1 FY15-16 and 2.8% for H1) and total revenue up by 6.3% (6.1% in Q1 FY15-16 and 6.1% for H1). Increases in wages (hourly wages increased by 13% since October 2014) will, however, weigh on margins; the company expects an H1 FY15-16 operating margin of c.6.3% (vs 7.4% in H1 FY14-15 and vs our annual estimate of 6.6%). JDW closed two pubs in H1 FY15-16 and ha