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%.
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"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 ...
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