• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
  • Guest Content
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics

JD Wetherspoon’s profits plummet 91 per cent

Tim Martin blamed ‘ferocious’ inflation for the profit drop.

Jack Peat by Jack Peat
2023-03-24 08:20
in Business and Economics
Credit;PA

Credit;PA

FacebookTwitterLinkedinEmailWhatsapp

Pub giant JD Wetherspoon’s has revealed a 90.9 per cent loss in profits for the 26 weeks to January.

The cheap beer chain has started to feel the pinch as the hangover from Covid-19 and Brexit supply issues kicks in.

Pre-tax profits were down £4.6 million compared to a whopping £50.3 million during pre-pandemic levels, its accounts show.

The listed pub group, which has over 100 sites across London, saw like-for-like bar sales down by 0.8 per cent.

However, food sales increased by 12 per cent and slot/fruit machine sales increased by 44.3 per cent.

Commenting on the results, Tim Martin said: “iInflationary pressures in the pub industry, as many companies have said, have been ferocious, particularly in respect of energy, food and labour.

“The Bank of England, and other authorities, believe that inflation is on the wane, which will certainly be of great benefit, if correct.”

It comes after the pub chain was forced to make changes to its much-loved breakfast menu due to supply shortages.

It recently announced it will no longer be serving tomatoes with its breakfast fry-ups amid nationwide shortages.

RelatedPosts

UK no longer worst-performing economy in G7

Timpson proves once again why it’s a business of impeccable moral standing

Manufacturing slump worsens as EU customers grow ‘tired of additional administrative Brexit checks’

‘Brexit will be remembered as a historic economic error’ – Larry Summers

Before the shortage, the bargain £6.88 breakfast meal included two sausages, two bacon, two fried eggs, a large mushroom slice, a tomato, three hash browns, baked beans and four half slices of toast.

But now the tomato has vanished from the meal.

Pub-goers are also unable to add grilled tomatoes as an extra with the item listed as ‘out of stock’.

It is unclear whether they will be replaced by turnips.

Related: Nearly half of specialist doctors in England and Wales born outside UK

Content Protection by DMCA.com
Tags: Wetherspoons

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending

Elevenses: The Thing About Wrexham’s Cinderella Story

Elevenses: Exposing the Tories’ Deepfake Illegal Immigration Bill

Elevenses: Rishi’s Finest Hour

More from TLE

Lucky Numbers and Horoscopes for today 7 April 2022

Former Paralympian climbs on to HS2 drill for Extinction Rebellion protest

Pacific trade deal will mean Britain ‘can never rejoin the EU’

Spurs after two? Man Utd man denies faking injury

San Antonio Spurs – back-to-back NBA titles?

New rheumatoid arthritis drug succeeds in clinical trial

Daily Express spin retirement delay as over 65 workers contribute to job ‘boom’

Sleep allows nerve cells to perform vital “maintenance” tasks, suggests study

Pope’s hopes of no more inequalities in post-coronavirus world

Donald Trump “overwhelmingly backed” to serve a second term as President

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.