J D Wetherspoon has reported full-year revenue of £2.0bn after like-for-like sales growth of 7.6%.
Underlying operating profit was up 30.3% to £139.4mn, benefitting from the uplift in revenues, and careful cost control.
Free cash flow fell from £271.1mn to £33.0mn reflecting last year’s one-off refinancing benefit, the timing of certain payments and increased levels of investments in existing pubs. Net debt including lease liabilities came to £1.1bn.
Like-for-like sales grew 4.9% in the first nine weeks of the current year.
J D Wetherspoon declared a dividend of 12p, compared to none in the comparative period. Last year, the group also spent £39.5mn on share buybacks.
The shares were trading flat following the announcement.
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J D Wetherspoon key facts
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