Wetherspoons boss Tim Martin said that 'dyed-in-the-wool' pubgoers swapping to supermarket beer during lockdown had led to profits dipping as the chain struggled to get people back through the doors
“However, as a result of the previously reported increases in labour and repair costs and the potentially adverse effects of rises in interest rates and energy costs on the economy, firm predictions are hard to make,” he said.
, said: “It has not been an easy ride for publicans of late and Wetherspoons is no exception. Sales are down, the group has swung to a £30m loss and there’s still no dividend.“Unlike many, Tim Martin and his team were able to fix energy costs before the price surge and the pub chain has long-term contracts with many of its suppliers behind the plethora of ales and pub classics on the menu, so cost increases could be quite subdued next year.
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