Wetherspoon boss Tim Martin pocketed £9.5mln in share sale

JD Wetherspoon (LSE:JDW) founder and chair Tim Martin has pocketed just over £9.5 million, through a share sale.

Martin sold 1.361 million shares in the company at a price of 739p, a stock market statement revealed.

It comes after Wetherspoon, in earlier this month, reported a 5.8% improvement in like-for-like sales in the 10 weeks to 7 July – which saw revenue reach new ‘record’ levels.

"Sales per pub are approximately 21% higher than pre-pandemic levels, which has helped to compensate for the very substantial increase in costs,” Martin told his fellow shareholders on 10 July.

Martin now holds 24.58% of the pub group, down from 25.68%.

In London, Wetherspoon shares were down 2.6% closing Monday’s session at 730p.