# UK’s J D Wetherspoon posts higher sales on resilient demand
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-10-06
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: J D Wetherspoon Reports 10% Sales Growth Amid
Meta Description: Discover how British pub group J D Wetherspoon saw a nearly 10% increase in sales, offering lower-priced food and drinks amidst economic challenges.
URL: https://financedigest.com/uks-j-d-wetherspoon-posts-higher-sales-on-resilient-demandhtml

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(Reuters) -British pub group J D Wetherspoon said on Friday sales in the first nine weeks of its financial year rose nearly 10% on strong demand for its lower-than-average priced drinks and food amid a cost-of-living crisis.

Resilient customer spending has helped the UK hospitality industry manage pressures from high costs as they continue to recover from the pandemic lows.

However, a cost-of-living crisis remains a threat as cash-strapped shoppers restrict discretionary spending.

J D Wetherspoon, which owns and operates pubs across UK and Ireland, said like-for-like sales increased by 9.9% first nine weeks of the current financial year to Oct 1.

The pub group said profit before tax for the year ended on July 30 was 42.6 million pounds ($51.85 million), from the 30.4 million pound loss it reported a year earlier.

($1 = 0.8216 pounds)

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Krishna Chandra Eluri)


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