Good profits news buoys Wetherspoon shares

<p>Wetherspoons shares have been boosted thanks to high takings over the summer.</p>

Shares in JD Wetherspoon have climbed on the London Stock Exchange (LSE) this morning (September 17th) thanks to the pub chain company's positive results for the year to July 29th.

Profits before tax and exceptional items jumped 8.4 per cent to £72 million, while sales in outlets that have been open for more than two years rose 3.2 per cent.

According to the franchise – which has 800 bars across the country – the Queen's diamond jubilee and Euro 2012 championships helped boost sales, while its pace of growth has sped up since the Olympic Games.

However, this sort of expansion is unlikely to continue at this pace.

Chairman Tim Martin said: "Sales this summer have been enhanced by a number of one-off events and we do not expect to sustain this level of growth."

At 11:55 BST today, Wetherspoon shares were 0.5 per cent higher on the LSE to 478.10 per share.

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