JD Wetherspoon shares up on sales growth

The price of shares in FTSE 250 pub landlord JD Wetherspoon (LON:JDW) has risen by 2.91% to 1,449p (as of 11:25 BST) after it said that like-for-like sales for the year to date were up by 6.7%. The company has opened five new pubs during the year ending 28th July and closed nine with no further changes in the portfolio expected before the close of the period.

However, the company is expecting to book a £3 million non-cash loss as the balance sheet value of its disposed pubs was above what was realised in the sale process.