More Pub Openings in the Pipeline after Record Year for JD Wetherspoon

Posted on 16 September, 2013 by Neil Bird

Pub chain JD Wetherspoon has posted record profits in the 52 weeks up to July, and has plans to open more outlets. But chairman Tim Martin insists the slow economic recovery gives little cause for celebration.

Wetherspoon’s says overall sales grew by 5.8 per cent year on year. Food sales led the way recording a very encouraging 10.9 per cent surge following the introduction of new menus. Traditional ales and ciders also performed well delivering a record rise in sales of 3.8 per cent.

The company, which opened its first pub in 1979, now has almost 900 branches and has added another 29 during the past year. It plans to open a further 30 over the coming twelve months and has revealed plans to open its first pubs in the Republic of Ireland.

Martin says that the UK economy has been close to ‘Armageddon’ since the banking crisis began five years ago and that it will be a ‘long slow haul’ to full recovery. Pointing to the 10,000 pubs which have closed in recent years, he calls for a level playing field on tax with supermarkets.

“This does not make economic sense for the government since pubs create far more jobs per meal or per pint than supermarkets’” he said.

To draw attention to this, all JD Wetherspoon pubs will cut their prices by 7.5 per cent for one day on 25th September.

The outspoken entrepreneur has also defended the pub chain’s use of controversial zero hours contracts. He argues that it is necessary in the pub trade and that regulation would lead to an increase in prices. He also makes clear that Wetherspoon’s staff receive holiday pay, sick pay and maternity pay. They are also entitled to free shares and bonuses.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants