Lockdown brings JD Wetherspoon's first losses but investors see glass half full

Firm lost £154.7m in the year to 31 July

Lockdown restrictions throughout the coronavirus pandemic put a “sledgehammer” through JD Wetherspoon’s business model and while short-term concerns remain, investors are toasting the long-term prospects for Tim Martin’s pub chain.

When the group listed in 1992, it was home to 50 pubs and had a share price of 160p. Today, 42 years after it was founded and 29 years since its listing, the FTSE 250 stock houses more than 900 pubs and had a peak share price of 1734p, almost a 1,000% increase. However, despite the lifting of lockdown restrictions and impressive share price performance, the company reported its second annual loss since 1984 last month. On a pre-tax basis, the firm lost £154.7m in the year to 31 July 2021, which compares to the previous year's loss of £34m for the period to 31 July 2020. Royal Mail ...