JDW will ‘slash beer prices’ post-Brexit

By Nicholas Robinson contact

- Last updated on GMT

Slashed: Tim Martin promises to cut beer prices post-Brexit
Slashed: Tim Martin promises to cut beer prices post-Brexit
Beer prices will be cut at JD Wetherspoon if Prime Minister Boris Johnson can separate the UK from the EU by 31 October, the pubco’s boss Tim Martin has said.

If the deadline is met, beer prices across JDW’s sites will be brought down to an “unbelievable low”, Martin told The Sun Online​.

He guaranteed that, so long as the UK leaves the EU “properly”, meaning “no messing around with the customs union or any of that funny stuff”, then beer in his pubs would be sold at rock-bottom prices.

Martin’s promise follows the release of the company’s financial statement in July, in which he said JDW was unlikely to open any new sites over the current​ financial year.

Total sales for the year

Like-for-like sales for JDW in the 10 weeks to July 2019 rose by 6.9%, with total sales for the year ending 28 July up 6.6%.

JDW, since the beginning of the financial year, had opened five new sites and closed down nine, the full year results showed.

“The main issue for shareholders, which dominates debate, relates to the nature of the UK’s post-Brexit relationship with the EU,” Martin said.

“The dichotomy between a ‘no-deal’ Brexit and a ‘deal’, as it is often portrayed in the media, politics and business, is highly misleading.”

Deals agreed

Martin continued: “The term ‘no-deal’ really means ‘multi-deal’ – a multitude of deals agreed between individuals, businesses, governments and other organisations.”

Since a small majority of Brits voted in favour of Brexit, Martin spent the following months changing the pubco’s stocklists, focusing on non-EU and UK-made food and drinks as much as possible.

Spirits, wines and beers from Continental Europe have been replaced where possible with alternatives produced in the UK and other countries.

JDW, the UK’s largest on-trade stockist of Kopparberg​, is also believed to have been the catalyst for the producer moving its production to the UK.

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