Wetherspoon Finance Director Keith Down and Chief Executive John Hutson (left to right)

JD Wetherspoon celebrates record results as it warns government on taxes

10th September 2010, 9:54am

Sales at high street pub chain, JD Wetherspoon, have reached an all-time high rising 4.3% to £996 million, an achievement the company describe as “exceptional”.

Like-for-like sales at the bar were down slightly by 0.8% and like-for-like food sales marginally increased by 0.1%.

The company's breakfast offering has ramped up over the last year and Wetherspoon said it's now selling 400,000 breakfasts and 600,000 coffees each week – an increase of 40%.

While the pub chain credited its "quality and motivated staff", chairman, Tim Martin, used the announcement to warn the coalition government about the way it treats the pub trade.

"Unfortunately, the present government seems determined to proceed on the same path as the last government, especially in regard to legislation impacting on pubs," he said.

Martin drew frequent parallels with the supermarket trade suggesting that the government's attitude differs depending on who it's dealing with.

"Much of the legislation aimed at controlling excessive consumption of alcohol has been aimed at pubs, since alcoholic products purchased in supermarkets are consumed elsewhere, so this aspect of regulation causes great expense for pubs, which is often unproductive, and virtually none for supermarkets.

"If the UK government wishes to maximise jobs and tax from the pub and restaurant industry, the tax paid by pubs and restaurants should be more fairly equated with the tax paid by supermarkets," he urged.

Looking to the future Martin said that Wetherspoon aims to be "one of the biggest and fastest growing employers in the country over the next five years" and "that there are substantial opportunities for us to acquire new sites at reasonable prices".

For Tim Martin's comments in full please click here.

Related Articles:

• 20 Oct 2010 - Wetherspoon launches 'personal menus' for diners with dietary requirements
• 14 Oct 2010 - JD Wetherspoon loses finance director and chief operating officer
• 10 Sep 2010 - Tim Martin urges change for the UK pub and restaurant industry
• 03 Sep 2010 - JD Wetherspoon to create 1,000 jobs for school leavers
• 23 Aug 2010 - Glasgow’s Europa bar sold to pub operator JD Wetherspoon
• 14 Jul 2010 - Like-for-like sales increase at JD Wetherspoon
• 05 Jul 2010 - Wetherspoon drops the price of its coffee to 49p
• 11 May 2010 - Pub chain JD Wetherspoon wins Rainforest Alliance award
• 05 May 2010 - Like-for-like sales down at JD Wetherspoon
• 14 Apr 2010 - JD Wetherspoon staff get ready to run London Marathon
• 11 Mar 2010 - JD Wetherspoon announce record first-half profits
• 03 Mar 2010 - At the table with... Tim Martin

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