Latest news with #VillaMaria
Yahoo
6 days ago
- Business
- Yahoo
JD Wetherspoon shares rise as sunny weather and 'standout' Guinness sales boost pub trade
Shares in JD Wetherspoon (JDW.L) rose nearly 3% on Wednesday morning, after the pub chain said sales had overtaken pre-pandemic levels, with sunny weather boosting trade in the fourth quarter. In a pre-close trading update, released on Wednesday, JD Wetherspoon reported a 5.1% rise in like-for-like sales in the fourth quarter. Chairman Tim Martin said that the company "benefitted from favourable weather in the fourth quarter, so that profits are anticipated to be in line with market expectations, notwithstanding the high tax and labour increases for the hospitality industry, which have been widely reported." He said that sales volumes, "which were very slow post-pandemic, have recently overtaken pre-pandemic levels". "Wine, for example, has shown strong growth, with Villa Maria from New Zealand and Prosecco from Italy both shooting the lights out," Martin said. "Spirits have improved in recent months and whisky volumes are significantly above pre-pandemic levels." In addition, Martin said that draught volumes were performing strongly, highlighting Guinness as a "standout performer". As for food sales, he said that breakfasts, after being "terribly slow post-pandemic, have recovered their lustre and are now well ahead". Martin added that chicken had also put in a "clucking good performance and volumes in recent weeks are up by about 50% compared to pre-pandemic levels". JD Wetherspoons currently operates 794 pubs, having opened three and sold nine sites year-to-date. The operator said it had also opened five new franchise pubs so far this year, bringing the total to eight. Wednesday's trading update gives investors an idea as to what to expect when the company publishes its preliminary full-year results, which are due out on 3 October. Read more: Which Mag 7 stocks will be the top performers this earnings season? Derren Nathan, head of equity research at Hargreaves Lansdown, said that despite the impact of increased labour costs flagged by Martin, analyst forecasts expect JD Wetherspoon's operating profit to land "a little ahead" of last year at nearly £140m ($189.6m). "The group has been trimming the tail of its estate by dropping underperforming units and is now leveraging its efficient operating model and brand strength to grab further market share," he said. "Flagging consumer confidence remains a near-term threat but, overall, the JD Wetherspoon looks in good shape with the shares offering reasonable value, compared to the peer group." Dan Lane, lead analyst at Robinhood UK, said: "UK consumer confidence is on the up and just hit its highest point since December. If inflation resumes its downward journey after the summer and takes interest rates with it, JDW could get a further demand boost heading into the final stretch of the year." Chris Beauchamp, chief market analyst at IG, said: "The usual complaints about taxation notwithstanding, this was a very solid set of numbers from 'Spoons. Britons continue to rediscover the joy of a Wetherspoons breakfast, not least because of its competitive price, and with drinks volumes now above pre-pandemic levels the iconic chain seems well-placed to grow further, though an increase in the dividend in due course wouldn't go amiss." Read more: UK's rising debt cost puts Reeves and tax rises in spotlight London IPO fundraising slumps in blow to UK Bank of England governor warns Labour against watering down financial rulesSign in to access your portfolio
Scotsman
7 days ago
- Business
- Scotsman
Something's proving ‘clucking good' as pubs giant Wetherspoon raises a glass to the Black Stuff
'Sales volumes, which were very slow post-pandemic, have recently overtaken pre-pandemic levels' – Sir Tim Martin Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... JD Wetherspoon's founder and chairman Sir Tim Martin has hailed Guinness as a 'standout performer' in recent months while sales of chicken products have 'put in a clucking good performance' at the pubs giant. His comments came as the group said overall sales increased by 5.1 per cent in the 12 weeks to July 20, compared with the same period last year. Advertisement Hide Ad Advertisement Hide Ad The volume of sales recently overtook pre-pandemic levels, the company revealed, having previously flagged a slow recovery across its estate. Releasing a trading update ahead of its results in early October, the group - commonly referred to as Spoons - highlighted strong draught sales, particularly Guinness, as well as growth for wine and an improvement in spirits. JD Wetherspoon, commonly called Spoons, runs almost 800 pubs across the UK and Ireland, including Dunfermline's Guildhall & Linen Exchange within its Scottish portfolio. Picture: Scott Reid Guinness maker Diageo has consistently said demand for the famed Irish stout has been growing rapidly. Furthermore, the warm weather in recent weeks has boosted visitors, with a raft of Wetherspoon pubs benefiting from beer gardens. The group runs 794 pubs in the UK and Ireland, including the likes of the Caley Picture House in Edinburgh and Dunfermline's Guildhall & Linen Exchange. Advertisement Hide Ad Advertisement Hide Ad Martin - who founded the chain in the late 1970s with a single pub in Muswell Hill, London, naming the business after one of his teachers - said: 'Sales volumes, which were very slow post-pandemic, have recently overtaken pre-pandemic levels. Wine, for example, has shown strong growth, with Villa Maria from New Zealand and Prosecco from Italy both shooting the lights out. Spirits have improved in recent months and whisky volumes are significantly above pre-pandemic levels. The Caley Picture House on Edinburgh's Lothian Road is one of Spoons' largest venues. 'Draught volumes are performing strongly with Guinness being the standout performer. On the food front, breakfasts, terribly slow post-pandemic, have recovered their lustre and are now well ahead. Chicken, also, has put in a clucking good performance and volumes in recent weeks are up by about 50 per cent compared to pre-pandemic levels.' He added: 'The company has benefitted from favourable weather in the fourth quarter, so that profits are anticipated to be in line with market expectations, notwithstanding the high tax and labour increases for the hospitality industry, which have been widely reported.' Wetherspoon has previously warned it is facing a £60 million hit from the higher business costs. Nonetheless, the group has said it plans to invest in its pubs over the year ahead, including staff rooms and gardens, and hopes to open another 30 sites. Advertisement Hide Ad Advertisement Hide Ad Martin, who has been vocal on a range of matters including Brexit and Covid lockdowns, told investors: 'In the next financial year, as well as investing in areas such as staff rooms, glass racks for 'branded' glasses, and gardens, the company plans to open approximately 15 new managed pubs and about the same number of franchised pubs.' The generally upbeat news from Spoons came just a day after it emerged that BrewDog was to close ten of its bars, including its flagship venue in Aberdeen. The Scottish craft brewing giant said it has made efforts to preserve the sites, but it 'has simply not been possible to make these bars commercially viable'. Adam Vettese, market analyst for eToro, said JD Wetherspoon's latest update had served up a 'reassuring performance' as punters flock to its pubs during the recent favourable spell of weather. 'Still, it's not all plain sailing,' he added. 'The company continues to face a hangover from rising wage and tax costs, forecast to add around £60m a year to the bill, putting pressure on operating margins. Net debt is expected to edge up to £720m, as Wetherspoon invests in freeholds and refurbishments. Advertisement Hide Ad Advertisement Hide Ad 'While full-year profit guidance remains intact, it's clear that cost inflation is nibbling away at the group's bottom line.' Third Bridge analyst Alex Doran noted: 'Our experts say Wetherspoon is in a strong position as the UK pub sector steadies after a tough few years. The industry should see margin pressures ease slightly over time as operators improve labour efficiencies and embrace digital tools, but customers are still careful about spending. 'For Wetherspoon, its position as a value-led, wet-led operator with strong tech adoption continues to underpin its resilience. 'Wetherspoon's app for ordering and paying at the table has become a clear advantage. Customers like seeing what they are spending, and this helps them feel they are getting value for money. Advertisement Hide Ad Advertisement Hide Ad 'While many operators cut hours to save costs, Wetherspoon has stuck to being open, building trust with customers who know they can rely on the brand any day of the week. This has helped the business gain market share,' he added. Upbeat Richard Hunter, head of markets at investment platform Interactive Investor, said that what was a relatively brief trading update had revealed 'an upbeat tone'. He added: 'Wetherspoon has fought its corner for many years and has overcome some serious hurdles, but the outlook for the wider domestic economy and the higher levels of staff costs continue to weigh heavily. While the shares have been rewarded over recent months for the group's valiant efforts, which still leave the price undemanding in terms of valuation, the market consensus of the shares as a hold reflects some investor unwillingness to take the plunge just yet.' He noted that the group's share price remained some 54 per cent shy of the £16.94 achieved in December 2019.
Otago Daily Times
18-07-2025
- Health
- Otago Daily Times
Wine brand ahead with Irish cancer warning
|By Guyon Espiner of RNZ One of New Zealand's most celebrated wine brands is putting cancer warning labels on wines exported to Ireland - nearly a year ahead of a law making the labels compulsory from May 2026. Villa Maria wines sold in Ireland feature a label on the bottle warning drinkers ''there is a direct link between alcohol and fatal cancers'' and also that ''drinking alcohol causes liver disease''. Alcohol harm reduction advocates say the labels should also be on alcohol sold in New Zealand rather than leaving drinkers in the dark about the cancer risk. Simon Limmer, chief executive of Indevin which owns the Villa Maria brand, said cancer warnings were on all Villa Maria wines produced for the Irish market from the 2024 vintage onwards and had been appearing on shelves over the last six months. The wine travelled long distances and could spend weeks in shipping containers and distribution before reaching retail shelves so acting early would avoid disruption for retail partners and consumers. "Consumers will likely take note of the new labels in Ireland as it's a significant change across all alcoholic products but it's too soon to understand the ongoing impact on purchasing decisions." Photos of Villa Maria wines featuring the warning labels were sent to advocacy groups in New Zealand by Alcohol Action Ireland, as it rallies support to stave off an alcohol industry lobbying effort to stall the labels. Sheila Gilheany, chief executive of Alcohol Action Ireland, wrote to alcohol harm reduction groups in New Zealand warning of a "severe threat to Ireland's alcohol health information labelling regulations". Gilheany told RNZ that Ireland's alcohol industry had opposed the cancer warning labels and was now using fears about trade tariffs to call for a delay. Irish media now expect the government to defer the introduction of cancer warning labels until 2029. Gilheany welcomed Villa Maria's acceptance of Ireland's labelling law and said winemakers from Australia and Spain had also been early adopters. "They are assuming that the government is not going to turn its back on its own law. Why should it? But at the same time, we can see the pressure that the various sectors of the industry are placing on the government here in Ireland and seeking to have it postponed." Ireland had about 1000 alcohol-related cancers every year and one in eight breast cancer cases were linked to alcohol but awareness of those risks was low, she said. Governments had to "face down the lobbying" both locally and internationally, Gilheany said. "We know that when Ireland goes ahead with this measure, particularly around the cancer warnings, it is likely that other nations will follow suit." Global push for warning labels Dozens of health groups recently wrote to British Prime Minister Sir Keir Starmer urging him to follow Ireland's lead. The letter was coordinated by the World Cancer Research Fund (WCRF) which is calling for "clear, plain, distinct and mandatory" cancer warning labels rather than ambiguous language such as "drink responsibly". In January this year, the US surgeon general said alcohol was a leading preventable cause of cancer and alcohol products should carry a warning label like cigarettes do. Virginia Nicholls, executive director of the New Zealand Alcohol Beverages Council, said the industry did not support cancer warning labels. "The level of health risk associated with alcohol is more complicated than a label can convey. "Labelling does not take into account the difference between responsible and hazardous drinking. The best place to get information on any health concerns is from your doctor." Labels may raise awareness but did not change behaviour and called for policies to "target the minority of people who are hazardous drinkers and not the large majority of Kiwis who are responsible drinkers". Nicholls said cancer risk was low when drinking at "moderate levels" and claimed there were "benefits of moderate alcohol consumption" including reduced risk of heart attacks, ischaemic strokes and diabetes. But in a 2023 statement the World Health Organisation said "when it comes to alcohol consumption, there is no safe amount that does not affect health". "There are no studies that would demonstrate that the potential beneficial effects of light and moderate drinking on cardiovascular diseases and type 2 diabetes outweigh the cancer risk associated with these same levels of alcohol consumption for individual consumers." The WHO says alcohol was classified as a Group 1 carcinogen by the International Agency for Research on Cancer decades ago. "This is the highest risk group, which also includes asbestos, radiation and tobacco." Lisa Te Morenga, co-chair of Health Coalition Aotearoa, said New Zealanders were being kept in the dark. "Most New Zealanders don't really realise that alcohol is a carcinogen. So while the Irish are having their awareness raised, our consumers are missing out." ACT's Nicole McKee, the Minister responsible for alcohol policy, is working on reform of the Sale and Supply of Alcohol Act. She said her focus was on "regulatory relief" to make business easier for retailers and hospitality venues and also on reducing alcohol-related harm. "I have not yet received any advice regarding cancer warning labels on alcohol products. Cabinet has yet to make any decisions regarding any reforms."
RNZ News
17-07-2025
- Health
- RNZ News
Morning Report Essentials for Friday 18 July 2025
food education 22 minutes ago In today's episode, a South Auckland principal is warning that a third of teenagers in communities like his could leave school with no qualifications; New Zealand wine brand Villa Maria putting cancer warning labels on its wines exported to Ireland, but in New Zealand industry lobby group the Alcoholic Beverages Council doesn't want the cancer warning labels; They're being called blocks of yellow gold, and whether that be cheese or butter - they're getting most of the blame for blowing out the weekly food budget; We have our weekly political panel; Singer Daphne Walker has died aged 94.
RNZ News
17-07-2025
- Business
- RNZ News
Alcohol lobby group on cancer warnings on alcohol
money health 16 minutes ago New Zealand wine brand Villa Maria putting cancer warning labels on its wines exported to Ireland, but in New Zealand industry lobby group the Alcoholic Beverages Council doesn't want the cancer warning labels. Alcoholic Beverages Council Virginia Nicholls spoke to Corin Dann.
