'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 Heavy metal producer's corpse to be mutilated by models as per his dying wish
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 Nineteen-year-old student left gifts for parents before taking her own life
- 4 Deliberately urinating before sex can increase risk of urinary tract infections
- 5 Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
David Cameron says anyone criticising Eric Pickles' letter to Muslims 'really has a problem'
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...