Wetherspoons boss Tim Martin said that 'dyed-in-the-wool' pubgoers swapping to supermarket beer during lockdown had led to profits dipping as the chain struggled to get people back through the doors
“However, as a result of the previously reported increases in labour and repair costs and the potentially adverse effects of rises in interest rates and energy costs on the economy, firm predictions are hard to make,” he said.
, said: “It has not been an easy ride for publicans of late and Wetherspoons is no exception. Sales are down, the group has swung to a £30m loss and there’s still no dividend.“Unlike many, Tim Martin and his team were able to fix energy costs before the price surge and the pub chain has long-term contracts with many of its suppliers behind the plethora of ales and pub classics on the menu, so cost increases could be quite subdued next year.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thomas Frank confirms two key players are going to miss playing against 'dynamic' Newcastle UnitedConfirming two key players are going to be missing, Thomas Frank talks about the challenge of facing a 'dynamic' Newcastle United.
Read more »
New UK oil and gas licences in North Sea face legal challenge\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »
£1.99 pints at real ale festival at Nottingham Wetherspoon pubs15 pubs will be taking part
Read more »
Bar worker sacked for Facebook post wins £3,000 compensationShe was fired for sharing a Facebook post that was berating her boss
Read more »
Leeds' Olympic gymnast Nile Wilson announced as Dancing On Ice contestantHe won an Olympic bronze medal in the men's horizontal bar at the 2016 Summer Olympics;
Read more »