Results round-up

Pub operator JD Wetherspoon posted its preliminary results for the year to 24 July on Friday, with revenue rising 5.4% to £1.595bn, and like-for-like sales improving 3.4% over the prior year.

The FTSE 250 firm’s profit before tax was up 3.6% at £77.8m, with operating profit dropping 2.5% to £109.7m and earnings per share growing 2.8% to 48.3p.

Its board maintained the full-year dividend at 12p.

After exceptional items, Wetherspoon’s profit before tax was £66m, up 12.5% year-on-year, with an operating profit of £109.7m up 3%.

Earnings per share after exceptional items were up 18.3% to 43.4p.

“I am pleased to report a year of progress for the company, with record sales, profit and earnings per share before exceptional items,” said chairman Tim Martin.

In his lengthy statement, Martin focused on giving the government advice on how to deal with Brexit - which the pub chain actively promoted - rather than focusing on the business’s performance.

He did outline its situation in the current year, however, saying that since the year end, Wetherspoon's sales have increased by 4.1%.

Lebanese restaurant chain Comptoir Group’s half-year revenue increased following going public in June, as it seeks to expand its business sites in the UK.

For the six months ended 30 June, revenue rose by 24.6% to £9.7m, compared to the same period last year, which resulted in a 10.2% increase in gross profit to £3.79m.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) expanded 9.2% to £1m.

Net cash and equivalents at the end of June stood at £8m, up from £1.3m last year, while bank borrowings of £2.3m were 21% higher.

The company said following the company’s admission to AIM in June, it now has the balance sheet which will enable it to expand by opening eight new sites by December, adding to its existing 15 restaurants in London and Manchester.

Comptoir's pipeline for 2017 and 2018 included a number of other sites, the contract for one of which has already been exchanged, but is not due to be completed until the second quarter of 2017.

Following its flotation on AIM and other items, the company incurred a pre-tax loss of £400,000.

The company's largest brand, Comptoir Libanais’ revenue increased by 23.2% to £6.9m as sales from other sites rose by 25% to £2.5m.

During the period, it experienced additional costs including the implementation of the national living wage at the beginning of April, and the company said it has worked to mitigate cost pressures through efficiencies and improving the gross margin.

The basic loss per share for the period was 0.47p, compared to the 0.44p of basic earnings per share seen in 2015.