UK Pubs group JD Wetherspoon PLC (LSE: JDW) reported solid full-year results and told Reuters it is considering options for a refinancing, including a rights issue.
The group said revenues in the 52 weeks to July 26 rose 5.2 year-on-year to £955.1 million, and pretax rofit before exceptional was up at 66.2 million from £58.2 million previously.
The company opened 39 pubs during the year, resulting in a total estate of 731 pubs.
On current trading, JD Wetherspoon said in the six weeks to September 6 2009, like-for-like sales increased by 1.2 percent and total sales by 5.8 percent from the same period last year, adding: “we remain confident of our future prospects.”
It said in a statement it expects to start discussions with its lenders by the end of the calendar year over refinancing a £435 million facility due to expire in December 2010.
Chief Executive John Hutson told Reuters: We've ruled nothing out at all. A rights issue or an equity placing, a US private placement, or even a bond issue. They're all options that are available to us."