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Wetherspoon Set to Open up to 25 More Pubs as Sales Jump Higher
The pub group plans 5 to 10 managed openings and 10 to 15 franchised sites after like-for-like sales rose 8.2%, chairman Tim Martin said.
- Pub group Wetherspoon plans to open up to 25 new bars in the year ahead, following an 8.2% rise in like-for-like sales over the 14 weeks to November 1.
- Chairman Tim Martin said the company is "comfortable" with market expectations of £76.4 million, though pre-tax profits fell 28% to £58.6 million in the previous 52-week financial year.
- Bar sales led growth with a 9.4% jump while food sales rose 6.8%, and the chain operates 797 managed pubs after opening six managed sites and two franchises this financial year.
- Martin argued that recent Government moves to hike labour costs widen the price gap between pub and supermarket pints, "However, it has also resulted in a substantial decrease in employment."
- Wetherspoon has already opened sites in Manchester Airport, Heathrow Airport, Crewe in Cheshire, Ferndown in Dorset, Diblen Purlieu in Hampshire, and Kempston in Bedfordshire this financial year.
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Leaning Left2Leaning Right2Center33Last UpdatedBias Distribution89% Center
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C 89%
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