A City analyst has forecast that the on-trade market (pubs, restaurants and cafes) lost in the region of £500 to £750m in sales as a result of severe weather in December.
Geof Collyer, of Deutsche Bank, said: "We arrive at a figure of £500m-£750m of lost sales
due to the snow impact — spread across 150,000 outlets (ONS data would include some unlicensed outlets).
"That's £3,500 to £5,000 per site of lost sales. But before Christmas, some companies noted local pubs were doing well, even if people couldn't get to destination outlets.
"We note London was not as badly hit as the rest of the country. We believe some outlets could have mitigated some of the costs, though perhaps not all of the raw material or staff costs for pre-booked parties, though some of these have been moved to January.
"We do not view this as the end of the world, and note January last year was poor, as was one of the weeks in December."