Wetherspoons posts strong Christmas sales rise

The firm, which has grown to more than 880 pubs on the back of popular value-led food and drinks deals, said sales at pubs open over a year rose 6.7 per cent in the first 12 weeks of its second quarter to January 19, up from a 3.7 per cent first-quarter rise.

Total sales including new pubs rose 10.6 per cent.

Wetherspoon said its operating margin had fallen 20 basis points to 8.1 per cent in the period, due to investment in areas such as IT, training and staff as it extends its food offering and prepares to open more pubs.

Operating margin for the full-year was now expected to be between 8.1 and 8.3 per cent, the firm said, having previously guided to 8.3 per cent. The margin was 8.7 per cent in 2012-13.

In November Wetherspoon increased its guidance for new pub openings for the 2013-14 financial year from 30 to between 40 and 50 due to a number of recent acquisitions.

The firm, which opened its first motorway services pub on Tuesday off the M40 in Beaconsfield, south east England, also plans to open its first pubs in Ireland in 2014.