Profits up at Wetherspoon's
Customers supping a pint for 99p and with a taste for cooked breakfasts helped pubs group JD Wetherspoon ring up a rise in profits today.
But despite the increase, the chain criticised the Government for tax bills which made many pubs "unsustainable" – it takes an average of £530,000 from each Wetherspoon's outlet.
Chairman Tim Martin also hit out at duty increases that cost the firm an extra £15 million this year, plus a £4 million bill from laws on new holiday entitlements for staff.
His comments came as the group lifted pre-tax profits to £30.8 million in the six months to January 25. Trading since then has seen like-for-like sales up 1.9 per cent, sustaining the growth seen in the first half of the year.
The firm said it had been boosted by the success of its 99p-a-pint offer, and this promotion will continue for the "immediate future".
Wetherspoon's has tackled the recession and hurdles such as the smoking ban by opening all of its pubs for breakfast. It now sells more than 700,000 breakfasts and coffees a week, and has also seen strong growth in traditional ales and some wines and spirits.
The firm expects to spend £16 million less on developing new pubs this year.
