MARKET TALK: JD Wetherspoon Update Better Than Expected -Shore

14th Jul 2010 07:55

0655 GMT [Dow Jones] JD Wetherspoon's (JDW.LN) trading update is better than expected, says Shore Capital. Like-for-like sales are up 1% in 4Q from 0.8% the previous quarter and ahead of the brokerage's expectations of broadly flat. Shore retains its 2010 pretax profit estimate of GBP71.3M and EPS estimate of 34.9p. "The outlook statement is also encouraging highlighting resilient sales, strong performance from new openings and substantial opportunities to acquire sites." Reiterates buy rating on the stock. Shares closed Tuesday at 438p.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 02:55 ET (06:55 GMT)