Slower growth at Wetherspoon

By THIS IS MONEY
Updated:

 

SHARES in JD Wetherspoon tumbled 9% today as the pubs group reported a modest slowdown in the pace of sales growth.

Like-for-like sales in the six weeks to 6 January were up 3.7% on the year. For the 23-week period, they were 5.4% stronger. Both were down slightly on the 6% posted in November for the first quarter.

Chairman Tim Martin said: 'The figures are reasonable. We are still ahead of inflation and these snapshots do vary through the year.'

Analysts pointed out that the shares have raced ahead in the past month and put today's 41p slide to 397 1/2p down to a bout of profit-taking.

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