JD Wetherspoon sees FY trading outcome above previous expectations

Pub operator JD Wetherspoon said on Tuesday that it expects a slightly better trading outcome for the year than was foreseen at the last update.

In a very brief trading statement, Wetherspoon said its recent sales performance has been slightly better than expected.

"The company continues to anticipate it will require like-for-like sales of about 3 to 4% in its next financial year to maintain profits at this year's levels," it said, adding that a further update will be provided in its pre-close trading statement on 12 July.

The group had already said back in early May that its trading outcome for the year was likely to be ahead of previous expectations following better-than-expected sales so far this year. In a trading update for the 13-week period to 23 April, the company said like-for-like sales were up 4% with total sales 1.3% higher.

At 1450 BST, the shares were up 2.3% to 988p.