Connect with us

Hi, what are you looking for?

Editor’s Pick

Wetherspoon on track for ‘record’ year as chain shrug off inflation woes

<?xml encoding=”utf-8″ ??>

JD Wetherspoon is expecting a “record” high in sales this year as the budget pub chain shrugs off inflationary and supply chain woes, sending its shares – with the company’s shares soaring over seven per cent when markets opened this morning.

The London-listed boozer said that sales during the Easter week were the highest-ever for the company as pub goers sought out cheap pints amidst the cost of living crisis.

Compared to FY22, like-for-like sales across the 834 strong pub chain increased 12.2 per cent in the third quarter and 12.7 per cent year to date.

As the UK enjoys three bank holidays during May, JD Wetherspoon said that the first weekend welcomed its busiest-ever Saturday – however recorded slightly less strong trade during the weekend of the coronation as drinkers turned elsewhere.

Wetherspoon recorded net debt of £738m at the end of April – approximately £67m lower than what was reported in its interim results for FY20 .

Since then, the business has invested £185m in new pubs and freehold reversions and has raised equity of approximately £240m.

During the quarter Wetherspoon also sold, closed or surrendered to the landlord 10 pubs (21 pubs year to date) which were smaller and older, or where the company had a second pub in  close proximity.

It recorded a net cash inflow of £4.7m from the 21 disposals.

With many pub businesses buckling under the pressure of soaring energy costs and price hikes –  Tim Martin chief executive of Wetherspoon said that inflation, especially in labour, energy and food costs, remains an “intractable issue”.

He said: “In order to bear down on inflation, political parties should encourage free enterprise, rather than a reliance on additional regulations. A lack of understanding, among some senior politicians, about the need to encourage a successful free market economy, presents a real threat to the future prosperity of the country.”

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The rapid advancement of digital technologies has gained momentum to a degree that it transformed almost every aspect of modern life. From enhanced and...


Massive construction activities that are ongoing and upcoming across Eastern, Central, and Western Visayas are further driving demand in the region’s construction industry this...


Amidst the picturesque Dole pineapple plantation, SATNET powered by Kacific bridges the connectivity gap. Have you ever wondered how a leading, remote food processing...


US dollar banknotes are seen in this illustration taken July 17, 2022. — REUTERS By Keisha B. Ta-asan, Reporter PHILIPPINE DOLLAR reserves slipped at...


PHILIPPINE STAR/MICHAEL VARCAS By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINE ECONOMY is likely to grow by 6% this year amid strong domestic...


By Kyle Aristophere T. Atienza, Reporter ECONOMISTS are worried about the alleged failure of Philippine lawmakers to take into account the health of state-owned...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.