Pub Group JD Wetherspoon has posted a 'reasonable' set of results for the half year ended December 31st, with a 10 per cent rise in revenue, like-for-like sales up 6.9 per cent, but pre-tax profit down 2.7 per cent.
The group said its biggest threat continues to be the VAT disparity between supermarkets and pubs and the continuing imposition of stealth taxes.
In the six weeks to March 10th, like-for-like sales increased by 7.3%, with total sales increasing by 9.9%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Taxation and input costs will continue to rise, but, overall, the company continues to aim for a reasonable outcome in the current financial year," Tim Martin, the Chairman of the group said.
More to follow ...
NR
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
