'We're not selling much beer': M40 JD Wetherspoon disappoints as pub giant sees poor sales
Friday 14 March 2014
Tim Martin, founder and chairman of pub giant JD Wetherspoon, has admitted that his newly opened pub on the M40 has not gone as well as he had hoped.
“We’re not selling much beer there and although we’re selling a lot of food it’s not as much as we’d hoped,” he said. “Frankly, the controversy it attracted has created something of a social stigma which will take some time to wear off.”
Martin knows what he would like the Chancellor to announce in next week’s Budget but also, more realistically, expects only token help for the beer industry.
“I’d like him to recognise there should be tax equality between pubs and supermarkets on VAT,” said Martin. “What I actually expect is, he’ll ignore that because it’s too complicated but he’ll keep excise duty on beer flat because he wants the support of the lounge bar over the next 18 months.”
Wetherspoon’s profits rose 8.5 per cent to £37.8 million in the six months to end-January on revenues up 9.1 per cent.
Sales from pubs open for at least a year rose 5.2 per cent and are up 6.7 per cent over the past six weeks
- 1 Michelle Rodriguez: Fast & Furious actor apologises after telling 'minorities' to stop taking on 'white' roles
- 2 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face the death penalty
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 5 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
Michelle Rodriguez: Fast & Furious actor apologises after telling 'minorities' to stop taking on 'white' roles
Boris Nemtsov shot dead: Putin critic may have been murdered by Islamic extremists, says president-led committee
British are sexually uptight, dirty and drink too much – according to Spanish book
Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face the death penalty
PornHub turns masturbation into energy in bid to save the planet
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...