Wetherspoons (JD) plc JDW is paying a maintained dividend of 4p per share for the six months to the 27th January. Despite a rise of 7.1% in revenue and 6.3% in like for like sales, profit before tax fell by 18.9% and earnings per share by 18.2%. Chairman Tim Martin, as can be expected, lambasts the establishment for a producing a barrage of negative economic forecasts predicting that the UK will go to hell in a handcart without a ‘deal’ with the EU. The great link in economics is that between democracy and prosperity. The fact that the EU is becoming less and less democratic does not bode well for its future prosperity. This winters excellent weather has been a shot in the arm for the brewers and in the six weeks to the 10th March, like-for-like sales have increased by 9.6% and total sales by 10.9%. Costs in the second half of the year will be higher than those in the same period last year and an unchanged trading outcome for the current financial year.is anticipated.
Restaurant Group plc RTN made significant progress in 2018, A record number of new sites were opened in both the Pubs and Concessions businesses, and achieving improved like-for-like sales in the Leisure business throughout the year. Wagamama which was acquired during the year proved to be a high growth business. Like for like sales for the year to the 30th December fell by 2% whilst total sales rose by 1% and current trading for the 10 weeks to the 10th March showed a rise 2.8%. The final dividend of 1.47p is in line with the boards current policy.
Symphony Environmental plc SYM is pleased with its preliminary results for the year to the 31st December with the CEO claiming that it demonstrates positive momentum on many different fronts. Ten governments have mandated that certain plastic products must contain oxo-biodegradable additives A further nine countries have introduced positive regulation for all types of bio-degradable packaging, regulatory moves which are beneficial to the Group’s business. Reported profit before tax fell to £0.04 million from £0.43 million in 2017 and basic earnings per share from 0.28p to 0.03p.