News Article Comments : JD Wetherspoon reports profit slump

JD Wetherspoon has this morning reported a 4.3% drop in like-for-like bar sales for the full year and an 11.4% slump in annual pre-tax profits.

There was a 2.1% increase in total sales to £907.5m and like-for-like food sales were up by 7.9% and, which when combined with the drop in bar sales, resulted in a total drop in like-for-like sales of 1.1%. The group said that including those bar purchases made in association with table meals, diners now accounted for approximately two-thirds of sales.

Food accounted for 29% of sales during the year, compared with 27% in the previous year, 17% 11 years ago, and 5% at the group’s flotation in 1992.

Food sales per pub, per week, for the year were £8,800 including VAT, against £8,200 last year.

Tim Martin, the group’s chairman, said: “In the light of our competitive prices, we believe that we sell more meals per pub, per week, than any other substantial pub company.”

For the year to 27 July — the first following the smoking ban in England —