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Wetherspoon makes announcement on 15 pubs after profits drop
- In an immediate trading update, JD Wetherspoon warned profits in the first half are likely to be lower as costs rose by 45 million in the first 25 weeks, driven by energy, wages, repairs, and business rates.
- Amid pressure on the sector, rising energy, wages, repairs, and business rates contributed to the £45 million cost increase, with the Labour Government expected to announce support measures.
- Despite cost pressures, sales show like-for-like growth of 4.7 in 25 weeks, 6.1 in 12 weeks, and an 8.8% jump over Christmas, with six pubs opened year-to-date.
- The market reacted when Wetherspoon shares tumbled 7% in early trading, and the company anticipates a full-year trading outcome slightly below that achieved in 2024-25 if current sales momentum continues.
- Wetherspoon is simultaneously preparing its first mainland European pub at Alicante airport, Spain, and has opened 16 franchised pubs, with nine more expected this year.
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16 Articles
16 Articles
The IndependentReposted by 
The Independent (US)
The Independent (US)JD Wetherspoon issues warning after ‘higher than anticipated’ costs
Christmas helped boost sales by 8.8 per cent
·London, United Kingdom
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Wetherspoons hit with profit slump as pub chain boss blames Rachel Reeves's business rates hike
Wetherspoons has issued a profit warning after revealing that costs climbed £45million higher than expected during the opening 25 weeks of its financial year, with company boss Tim Martin blaming
·London, United Kingdom
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Coverage Details
Total News Sources16
Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
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