# UK pub operator Wetherspoon’s loss narrows despite higher costs Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-10-07 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: J D Wetherspoon annual loss narrows despite rising costs Meta Description: Despite battling soaring energy and labour costs, British pub operator J D Wetherspoon's annual loss narrowed, as industry grapples with post-pandemic URL: https://financedigest.com/uk-pub-operator-wetherspoons-loss-narrows-despite-higher-costshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-10-07t070016z3lynxmpei96097rtroptp4jd-wetherspoon-results-1736815081700-compressed.jpg) (Reuters) -British pub operator J D Wetherspoon’s annual loss narrowed from a year ago, even as the company battled soaring energy and labour costs. Pub groups in Britain, still reeling from the COVID-19 pandemic, are now grappling with rising costs of everything from labour and ingredients to energy, and the threat of lower consumer spending as inflation in the country continues to soar. Last week, its rival Mitchells & Butlers also warned of tighter margins in its new financial year on higher costs. Wetherspoon’s results also come after it said earlier this [year that higher costs](https://www.financedigest.com/commonenergy-mistakes-costing-homeowners-hundreds-of-pounds-each-year.html "Commonenergy mistakes costing homeowners hundreds of pounds each year") of labour and repairs were hurting its bottom line. On Friday, the company [reported a loss](https://www.financedigest.com/global-economy-weathered-98bn-natural-hazard-loss-in-first-half-of-2016-according-to-aon-catastrophe-report.html "GLOBAL ECONOMY WEATHERED BN NATURAL HAZARD LOSS IN FIRST HALF OF 2016, ACCORDING TO AON CATASTROPHE REPORT") of 30.4 million pounds ($33.96 million) for the 12 months ended July 31, compared with 154.7 million loss last year. Perhaps the biggest threat to the [hospitality industry is the possibility of further lockdowns](https://www.financedigest.com/lockdown-unlocked-testimonials-of-hospitality-businesses-reinventing-the-service-experience.html "Lockdown Unlocked: Testimonials of hospitality businesses reinventing the service experience") and restrictions” Chairman Tim Martin said. Like for like [sales for the first nine weeks of the financial year](https://www.financedigest.com/spains-november-retail-sales-fall-0-6-on-year.html "Spain’s November retail sales fall 0.6% on year") was 10.1% higher than the same period last year, the company said. ($1 = 0.8951 pounds) (Reporting by Radhika Anilkumar in Bengaluru; Editing by Saumyadeb Chakrabarty and Uttaresh.V) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---