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JD Wetherspoon's expansion drive

By Daily Mail Reporter
Updated: 06:02 EDT, 15 April 2011

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JD Wetherspoon (up 1.7p at 432p) wants to double its chain to 1600 pubs.

The group, which currently has 797 sites, plans to take advantage of more reasonable property prices.

Chairman Tim Martin said: 'There's another 800 to go for.

'I think it is a good time to be pushing the boat out a bit in terms of acquiring property.'

Its aggressive expansion plans are in contrast with some of its rivals.

Punch Taverns (up 0.3p at 76.50p), which earlier this week delivered a further fall in profits, is splitting its business in two.

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