As JD Wetherspoon toasts progress, have its shares bottomed out?

It’s always worth reviewing full-year figures for JD Wetherspoon (JDW) if for no other reason than to be privy to the musings of group chairman Tim Martin. In a relatively subdued review of the year to 30 July, he again cast doubt on the efficacy of the lockdowns, while pouring scorn on the media’s coverage of the pubco, declaring that “in the febrile atmosphere of the first lockdown, something went awry and a number of harmful inaccuracies were published”.