JD Wetherspoon first-half profit up 36%, warns of weaker second half

Pub owner JD Wetherspoon posted a 36% increase in first-half profit as it increased sales of beverages, food and hotel rooms, but warned it was 'cautious' on the second half of the year.

Pre-tax profit rose to £54.3m, up from £39.9m in 2016, as revenue rose by 3.6% to £830.4m.

Like-for-like sales increased by 6.1%.

The company held its interim dividend steady at 4p per share, while warning that it expected costs to rise in the second half.

In the six weeks to 11 March, like-for-like sales increased by 3.8% and total sales increased by 2.6%.

'The company anticipates higher costs in the second half of the financial year, in areas including pay, taxes and utilities,' JD Wetherspoon said.

'In view of these additional costs, and our expectation that growth in like-for-like sales will be lower in the next six months, the company remains cautious about the second half of the year.'

At 8:02am: (LON:JDW) Wetherspoon J D PLC share price was +31.5p at 1326.5p