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Share Name Share Symbol Market Type Share ISIN Share Description
Wetherspoon ( J.d.) Plc LSE:JDW London Ordinary Share GB0001638955 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  20.00 3.02% 682.00 245,866 16:35:07
Bid Price Offer Price High Price Low Price Open Price
682.50 684.00 688.00 661.50 670.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 772.56 -154.68 -67.80 878
Last Trade Time Trade Type Trade Size Trade Price Currency
17:52:51 O 1,261 681.731 GBX

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DateSubject
25/6/2022
09:20
Wetherspoon ( J.d.) Daily Update: Wetherspoon ( J.d.) Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker JDW. The last closing price for Wetherspoon ( J.d.) was 662p.
Wetherspoon ( J.d.) Plc has a 4 week average price of 661.50p and a 12 week average price of 661.50p.
The 1 year high share price is 1,281p while the 1 year low share price is currently 661.50p.
There are currently 128,750,155 shares in issue and the average daily traded volume is 261,941 shares. The market capitalisation of Wetherspoon ( J.d.) Plc is £878,076,057.10.
22/6/2022
17:00
essentialinvestor: As mentioned previously Mr Martin has been a generally astute reader of the SP over many years, has he bought recently?, not unless I've missed it. JDW got back to £14 in April 2021, which was not too far off the pre covid share price peak, given a larger debt pile coupled with more shares in issue post covid, that £14 looked highly ambitious.
22/6/2022
09:57
harveyspeed: I've just doubled my shareholding after this morning's drop into the 660s. I feel JDW is in a strong position. My simplistic view - Most of its property portfolio is owned outright, so little worry of lease price increases. Other pubs on leases will no doubt suffer and close. JDW take their custom.The majority of people can ride an economic downturn and will continue to go to the pub and enjoy themselves. People will be watching their spending and choose places like JDW to eat/drink.Probable likelihood that staycation will be high this year, with people choosing not to fly abroad due to economy, cost, airline cancellations, residual covid restrictions (France still requiring PLF; mask wearing on Spanish flights/ transport). First summer with zero restrictions in UK since 2019. This is good for JDW.Football World Cup in November, normally one of the quietest months for hospitality. Two home nations competing. Always a good time for pubs. Petrol price rises will impact costs of goods, but a large proportion of society are still working from home - not spending as much on commuting.War situation is a big uncertainly.Lots of negative news, but also things to be positive about.
21/6/2022
10:45
likeawalrus: m-kerr, I think investors often overlook the property portfolio and focus solely on turnover, at some point jdw may start a sell & leaseback of some properties which could be very lucrative and would address any cashflow issues or capital requirements. I spent a couple hours in my local spoons by the Thames yesterday afternoon, very busy inside and out. my only criticism would be that they need to clear tables a little more efficiently. As summers become longer and hotter, jdw will thrive, today's share price will be a distant memory in a year or two
20/6/2022
23:00
m_kerr: the shares here really are in the doldrums. i'm guessing the markets sussed that JDW need higher volumes than peers to get close to their pre covid profits. IMV those running the company have done a lot right. they've significantly strengthened the freehold mix, fixed the interest rate for almost 9 years, and continue to invest in the business for the long term. and no onerous securitisation that hampers the likes of marston's and mitchell's and butlers. they've got property worth at least £2bn conservatively, and possibly more, effectively leaving net assets at least 30% higher than the current share price. very interesting.....
14/6/2022
08:57
likeawalrus: hot weather coming very soon, pubs will be packed, especially Spoons, investors will look at jdw and conclude that it's great value in the 700's, imo the share price will be trading above 900p by Oct/Nov
25/4/2022
14:01
gozzie2: Summary of questions from investors and answers from Wetherspoon from the Interim Results Investor Roadshow, March 2022The following questions were raised by analysts and investors after the release of the company's half year results on 18 March 2022. The answers are a summary of those provided by the company's management. The company believes it helpful for this summary to be made available to a wider audience. Forward-looking statements were made by the directors in good faith using information available up until the date that they provided the answers. Forward-looking statements should be regarded with caution because of inherent uncertainties in economic trends and business risks. The company undertakes no obligation to revise or update any forward-looking statement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.1) Can you talk us through the sales journey over the last couple of months?As has been widely reported, Plan B restrictions adversely affected sales. Since the restrictions were lifted, sales have improved.2) We see you put the price of a pint up 10p recently. Have you any other plans for price increases?We try to avoid making statements about price rises. Our general policy is to remain as competitive as possible. In the medium and longer term, at the risk of stating the obvious, some price rises are inevitable in an inflationary environment. 3) How do you think the company might trade through the probable recession?Wetherspoon has experienced a number of recessions and downturns in the last 43 years. In general, we have traded reasonably well in these circumstances. Lockdowns and restrictions, which had never been implemented before, have been a nightmare in comparison. 4) Are customers being a bit more cautious about spend levels?Common sense would indicate that they are, but it hasn't affected our trade so far, which has improved in recent weeks, as we've reported.5) Can you give us some examples of what you're working on to try and increase sales? We've always referred to the 1000 components of a BMW. We try to improve every component as time goes by.We have, for example, been promoting coffee and breakfast sales recently, which have been affected by 'working from home', and are promoting traditional ale, often consumed by older customers, who have been cautious about visiting pubs. We have also increased rates of pay for staff and have improved benefits, including free meals on duty. 6) Are you seeing any variation in trading in the regions? Are there differences between cities and towns?As has been widely reported, London has been slow. In contrast some big city centres, like Liverpool, Manchester and Birmingham, have been strong. There does not seem to be a pattern. Perhaps some suburbs have been slower than the market was anticipating – working from home doesn't necessarily increase suburban trade, if the suburbs are within 'striking distance' of the city centre. Lloyds bars, which have music and appeal to a younger clientele, have outperformed Wetherspoon pubs. Hotels, a small part of our business, have traded well.7) It's good increase to volumes, but surely there comes a time when you might look to make more money by raising prices?We increased sales and profits for about 40 years up to the pandemic, albeit we were sometimes advised to increase prices during this time. We don't have a 'doctrinaire' approach and have increased prices from time to time, but aim, overall, to stay competitive. More than that, it's difficult to say...8) How price sensitive are customers?Many surveys over the decades have said that price is not among the most important factors in making a decision to visit a pub. Atmosphere, cleanliness, friendly staff and so on, may be more important. Our view is that prices are, nonetheless, important, but that varies from customer to customer. 'Careful' customers are more numerous than some surveys reveal, even among the affluent...9) Can you talk us through the cost inflation that the company is seeing and expects to see over the next few months?We have fixed interest rates at a low level to 2031. For many years, almost all the new leasehold pubs we acquired have had fixed rental increases, which are well below the current level of inflation. We're protected, to some extent, by long-term supplier contracts, but, even so, are feeling the effects of inflation in respect of energy costs and food supplies especially. In combination, we hope that our total cost increases will be about 1 or 2% below the level of inflation.10) How focused are the pubs on reducing energy consumption?We have always tried to minimise energy costs, but will reinvigorate our efforts in this area in the course of the next few weeks and months. 11) What wage rate growth can we expect over the next 12 months?Reflecting trends in the hospitality industry, from 2013 to 2021, average pay rates per hour at Wetherspoon increased by 5.5% per annum, compared to consumer price inflation rates which averaged 1.7% per annum1. In 2022, labour costs have increased by 7.7%. Future pay increases will probably depend, above all, on the performance of the UK economy – an unknown at the current time.12) A lot of competitors say that Brexit has reduced the supply of labour. What is your view?The respected Worldometer website gives a UK population of 66.3 million in 2016, the year of the referendum, increasing to 68.5 million in April 2022. Immigration levels are slightly reduced from the years preceding the referendum, but not by much. Europe, the US and Australia have also reported labour shortages, perhaps due to what the Washington Post has referred to as 'the Great Reassessment', whereby people have retired, changed jobs, or reduced working hours. Having said that, as the company has stated on a number of occasions, a preferential visa system for EU countries would be helpful to the UK economy. This can be justified on the basis of 'proximity', similar to the arrangements between the UK and Ireland, and Australia and New Zealand, for example.13) Repairs expenditure looks like it is in line with the pre-pandemic period? Can you talk us through what's happening there?Repairs in the first half were approximately the same as repairs in the first half of FY20. There is a temptation to reduce expenditure on repairs in downturns, but we try to avoid this, since it stores up trouble and reduces 7) It's good increase to volumes, but surely there comes a time when you might look to make more money by raising prices?We increased sales and profits for about 40 years up to the pandemic, albeit we were sometimes advised to increase prices during this time. We don't have a 'doctrinaire' approach and have increased prices from time to time, but aim, overall, to stay competitive. More than that, it's difficult to say...8) How price sensitive are customers?Many surveys over the decades have said that price is not among the most important factors in making a decision to visit a pub. Atmosphere, cleanliness, friendly staff and so on, may be more important. Our view is that prices are, nonetheless, important, but that varies from customer to customer. 'Careful' customers are more numerous than some surveys reveal, even among the affluent...9) Can you talk us through the cost inflation that the company is seeing and expects to see over the next few months?We have fixed interest rates at a low level to 2031. For many years, almost all the new leasehold pubs we acquired have had fixed rental increases, which are well below the current level of inflation. We're protected, to some extent, by long-term supplier contracts, but, even so, are feeling the effects of inflation in respect of energy costs and food supplies especially. In combination, we hope that our total cost increases will be about 1 or 2% below the level of inflation.10) How focused are the pubs on reducing energy consumption?We have always tried to minimise energy costs, but will reinvigorate our efforts in this area in the course of the next few weeks and months. 11) What wage rate growth can we expect over the next 12 months?Reflecting trends in the hospitality industry, from 2013 to 2021, average pay rates per hour at Wetherspoon increased by 5.5% per annum, compared to consumer price inflation rates which averaged 1.7% per annum1. In 2022, labour costs have increased by 7.7%. Future pay increases will probably depend, above all, on the performance of the UK economy – an unknown at the current time.12) A lot of competitors say that Brexit has reduced the supply of labour. What is your view?The respected Worldometer website gives a UK population of 66.3 million in 2016, the year of the referendum, increasing to 68.5 million in April 2022. Immigration levels are slightly reduced from the years preceding the referendum, but not by much. Europe, the US and Australia have also reported labour shortages, perhaps due to what the Washington Post has referred to as 'the Great Reassessment', whereby people have retired, changed jobs, or reduced working hours. Having said that, as the company has stated on a number of occasions, a preferential visa system for EU countries would be helpful to the UK economy. This can be justified on the basis of 'proximity', similar to the arrangements between the UK and Ireland, and Australia and New Zealand, for example.13) Repairs expenditure looks like it is in line with the pre-pandemic period? Can you talk us through what's 22) Are you happy with debt levels? What are the current thoughts about debt reduction?The pandemic will inevitably mean greater anxiety and caution regarding debt, which we will take into account in our capital expenditure plans. It is difficult to be precise, because the exact level of debt will depend on an assessment of the risks, opportunities and the returns on capital in future years.23) Will you be closing or selling pubs over the next few years?We have sold a number of pubs in recent years, mostly where we have another pub in close proximity. There may be a dozen or so similar examples, in the course of the next few years. 24) With hindsight, did you need to raise the money from the share placings?Good question. At the half year end, we had liquidity of £159m, so it's possible to argue that we raised too much money. However, given the level of uncertainty, an element of caution was probably correct. Had we raised no money, sleepless nights would have been inevitable for the company, lenders and for shareholders...25) When might you pay a dividend again?Our best estimate is that profits would need to return to about pre-pandemic levels.26) What have sector peers done with their prices?It has been widely reported that prices in the industry generally have risen in recent months, which accords with our anecdotal evidence and experience. 27) Has there been a reduction in the number of competitor pubs?The have been many reports of pub and restaurant closures, although in some instances a new operator has taken over closed premises. 28) What is the off-trade doing with prices?Supermarkets pay no VAT in respect of food sales, whereas pubs pay 20%. This amounts to a tax subsidy for supermarkets, allowing them to reduce drinks' prices, putting pressure on the entire pub and restaurant industry. It is a principle of taxation that it should be fair and equitable. Encouraging pubs and restaurants, key components of beleaguered high streets, which produce higher taxes than supermarkets anyway, is essential for optimal UKeconomic performance. We are right on this point, and MPs and Treasury officials are intelligent, so they will get there in the end...happening there?Repairs in the first half were approximately the same as repairs in the first half of FY20. There is a temptation to reduce expenditure on repairs in downturns, but we try to avoid this, since it stores up trouble and reduces
14/12/2021
14:07
likeawalrus: I started tracking the jdw share price early summer after having some very good lunches in a spoons on the Thames, fortunately I didnt invest at the time as the share price (at £11.50) was looking a bit toppy although I was tempted. at circa £8 it's beginning to look undervalued as a 2 to 3 year investment
24/10/2021
18:37
glenowen: I thought the same about Greggs i.e. that the move to working from home would surely hit their business model and their share price - like JDW, the majority of their outlets are in town centres. Yet the Greggs share price has doubled during the past twelve months, while JDW's share price continues to move in the opposite direction. The Stock Market does behave in strange ways!
03/1/2021
15:13
essentialinvestor: Perhaps a longer term perspective may be helpful. In September 2017 the JDW share price was around current levels. That year JDW made £76 Million on pre tax and EPS was 70.80p a share.
23/11/2020
18:12
glenowen: By the way, nice to see the JDW share price perform so well of late. I will celebrate that modest recovery in my financial well-being in early December in my local Wetherspoon! And, of course, that fine victory by Mr Biden.
Wetherspoon ( J.d.) share price data is direct from the London Stock Exchange
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