Tim Martin, founder and chairman of J D Wetherspoon
The national pub chain saw sales and profits rise during the six months ended 28 January but warned of challenging times ahead.
National pub chain J D Wetherspoon reported better-than-expected results for the six months ended 28 January.
The group, which operates almost 1,000 pubs across the UK and Ireland, posted a 36.1% rise in pre-tax profit to £54.3m with revenue rising 3.6% to £830.4m.
However, founder and chairman Tim Martin is cautious about the year ahead, with the sector set to be impacted heavily with rising taxes and staffing costs.
Martin said: “In the six weeks to 11 March 2018, like-for-like sales increased by 3.8% and total sales increased by 2.6%.
“The company anticipates higher costs in the second half of the financial year, in areas including pay, taxes and utilities.
“In view of these additional costs, and our expectation that growth in like-for-like sales will be lower in the next six months, the company remains cautious about the second half of the year.
“Nevertheless, as a result of slightly better-than-expected year-to-date sales, we currently anticipate an unchanged trading outcome for the current financial year.”
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