Advertisement

JD Wetherspoon plans to cut food prices as profits fall

JD Wetherspoon has announced mixed figures for the six months ended January 25th - revenue increa...
Newstalk
Newstalk

08.47 13 Mar 2015


Share this article


JD Wetherspoon plans to cut fo...

JD Wetherspoon plans to cut food prices as profits fall

Newstalk
Newstalk

08.47 13 Mar 2015


Share this article


JD Wetherspoon has announced mixed figures for the six months ended January 25th - revenue increased by 9 percent, but its operating profit fell by 1.1 percent to £55.1m.

The chain is planning to cut the costs of coffee and breakfast meals in a bid to triple sales over the next year and a half. Wetherspoons currently sells some 50m coffees and 24m breakfasts per-year.

In a statement accompanying the interim results, JD Wetherspoon's managing director, Tim Martin continued to criticise the level of taxes paid by British supermarkets on alcohol sales.

Advertisement

He says that the "continuing tax disparity between supermarkets and pubs" is the "biggest danger to the pub industry."

According to the British Beer & Pub Association there are now some 48,006 pubs in the UK - down from 67,800 in 1982 - with four pubs closing per-week.

The chain is expected to open 30 pubs in Ireland in the coming years. It is already operating two pubs in the south Dublin suburbs of Blackrock and Dun Laoghaire.

More Dublin pubs are due to open in Blanchardstown and Swords - and the group is developing a hotel and pub on Camden St in Dublin's city center.

Locations in Cork city and Waterford are also expected.


Share this article


Read more about

Business

Most Popular