The boss of Wetherspoons says he is ‘more cautious’ about the outlook ahead of the Budget and warns that rising costs could add 15p to the price of a pint.
Tim Martin, whose firm runs nearly 800 pubs across the UK, said sales rose 3.7 per cent in the first 14 weeks of its financial year to November 2.
‘The company is pleased with the continued sales momentum but is mindful of the Chancellor’s Budget statement and, as a result, is slightly more cautious in its outlook for the remainder of the year,’ he said.
Martin warned that another large increase in staffing costs would add 15p to the price of a pub pint. The average price is £5.16.
Cautious: Wetherspoons boss Tim Martin, whose firm runs nearly 800 pubs across the UK, said sales rose 3.7% in the first 14 weeks of its financial year to November 2
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
InvestEngine
InvestEngine
Account and trading fee-free ETF investing
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
