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Wetherspoon says H1 profit down

07/03/2008 08:39

LONDON (Reuters) - Pubs firm JD Wetherspoon said on Friday rising costs meant it was slightly more cautious on the outlook for its second half, as it met forecasts with a 13 percent fall in first-half profit.

"In February, we continued to generate strong growth in food sales combined with a decline in bar sales. We expect second-half sales trends to be broadly similar to those of the second quarter," Wetherspoon said.

Wetherspoon made a pretax profit of 28.5 million pounds in the 26 weeks to January 27, on turnover up 0.4 percent to 440 million pounds. Like-for-like sales fell 2 percent. The interim dividend was up 10 percent to 4.4 pence.

(Reporting by Dan Lalor; Editing by Erica Billingham)

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LONDON (Reuters) - Pubs firm JD Wetherspoon said on Friday rising costs meant it was slightly more cautious on the outlook for its second half, as it met forecasts with a 13 percent fall in first-half profit.

"In February, we continued to generate strong growth in food sales combined with a decline in bar sales. We expect second-half sales trends to be broadly similar to those of the second quarter," Wetherspoon said.

Wetherspoon made a pretax profit of 28.5 million pounds in the 26 weeks to January 27, on turnover up 0.4 percent to 440 million pounds. Like-for-like sales fell 2 percent. The interim dividend was up 10 percent to 4.4 pence.

(Reporting by Dan Lalor; Editing by Erica Billingham)

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