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Wetherspoon increases profits
Pub operator JD Wetherspoon has announced a 21 per cent increase in its first-half profits to £27.4m, despite a 7.3 per cent decline in like for like sales in its non-smoking pubs.
Consequently, Wetherspoon does not intend to convert any further pubs into non-smoking venues, although all new openings will be smoke-free. The company is also expecting an £8m increase in its utilities bill if energy prices increase by 90 per cent as anticipated. This may be further hampered by the government’s 6+ per cent increase in the minimum wage this October.
Although the new licensing hours have not increased liquor sales, Wetherspoon has targeted the breakfast market by opening earlier – selling 30,000 breakfasts a week compared with 10,000 a year ago. The company now plans to further increase its food sales – primarily by targeting lunchtime customers – with the launch of a new menu this month in combination with its current Lavazza coffee campaign.
The company is not, however, introducing TV screens into more of its pubs for the World Cup despite having seen sales hit by previous international football tournaments.
Wetherspoon has also launched a judicial review in London’s High Court to overturn the refusal of Guildford Borough Council to permit a late-night drinking licence at one of its Guildford premises on the grounds that the town’s current crime and disorder problems will be exacerbated. Details: www.jdwetherspoon.co.uk
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