Customers drink outside a Wetherspoon public house in London, Britain, October 6, 2023. REUTERS
May 6 (Reuters) – British pub chain J D Wetherspoon reiterated concerns that higher energy costs and taxes will weigh on its annual profit on Wednesday, as it posted a 3.4% rise in like-for-like sales for the 13 weeks to April 26.
A surge in energy prices triggered by the Iran war is poised to further compound difficulties for Britain’s hospitality sector, which is struggling with weak consumer spending and increased costs.
Wetherspoon, which had already warned in March that full-year profit could miss expectations, said a substantial increase in costs may lead to profits slightly undershooting market expectations.
Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich
