JDW released Q2 FY16/17 trading numbers (12 weeks ended 15 January 2017) which were ahead of our estimates as well as market consensus. The lfl revenue increased by 3.2% (vs Q1 FY16/17: +3.5%, Q4 FY15/16: +4.0%; our estimate: +2.5%), on the back of strong UK consumer demand and sales transfer benefits from the closed pubs. The 2.5% negative scope impact (due to the net reduction of 11 pubs) resulted in total revenue growth of 0.7% (vs Q1 FY16/17: +2.3%, Q4 FY15/16: +3.8%; our estimate: 0%). F
03 Mar 2017
Robust Q2 results; unavoidable cost pressure ahead
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Robust Q2 results; unavoidable cost pressure ahead
J D Wetherspoon plc (JDW:LON) | 735 -44.1 (-0.8%) | Mkt Cap: 908.9m
- Published:
03 Mar 2017 -
Author:
Nishant Choudhary -
Pages:
3
JDW released Q2 FY16/17 trading numbers (12 weeks ended 15 January 2017) which were ahead of our estimates as well as market consensus. The lfl revenue increased by 3.2% (vs Q1 FY16/17: +3.5%, Q4 FY15/16: +4.0%; our estimate: +2.5%), on the back of strong UK consumer demand and sales transfer benefits from the closed pubs. The 2.5% negative scope impact (due to the net reduction of 11 pubs) resulted in total revenue growth of 0.7% (vs Q1 FY16/17: +2.3%, Q4 FY15/16: +3.8%; our estimate: 0%). F