# UK’s J D Wetherspoon returns to profit as supply issues ease
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-24
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: J D Wetherspoon Plc's Return to Profit and Sales Surge
Meta Description: British pub group J D Wetherspoon Plc reports half-year profit, sales surpass pre-pandemic levels. Chairman Tim Martin cautious but optimistic for future
URL: https://financedigest.com/uks-j-d-wetherspoon-returns-to-profit-as-supply-issues-easehtml

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(Reuters) -British pub group J D Wetherspoon Plc on Friday posted a return to half-year profit and said sales in recent weeks have topped pre-pandemic levels.

“Supply or delivery issues have largely disappeared, for now, and were probably a phenomenon of the stresses induced by the worldwide reopening after the pandemic,” Chairman Tim Martin said in a statement.

Martin said he was “cautiously optimistic” on the company’s outlook for the year and the years ahead.

British [inflation unexpectedly rose to 10.4% in February](https://www.financedigest.com/french-inflation-revised-upwards-in-february-to-7-3-final-figures.html "French inflation revised upwards in February to 7.3% – final figures"), pushed up by higher food and drink prices in pubs and restaurants.

We expect 2023 to be a grind for pubs, with companies and consumers facing [cost headwinds and a sluggish economy,”](https://www.financedigest.com/louisiana-floods-to-cost-us-economy-more-than-10bn-according-to-aon-catastrophe-report.html "Louisiana floods to cost US economy more than bn, according to Aon catastrophe report") analysts at Stifel said in a note.

The pub chain, sometimes referred to “‘Spoons”, is [priced lower](https://www.financedigest.com/ks-cuts-2023-profit-outlook-on-slow-recovery-lower-potash-prices.html "K+S cuts 2023 profit outlook on slow recovery, lower potash prices") than others in Britain. Its [shares were up 4% in early trade](https://www.financedigest.com/social-trading-is-the-new-way-that-gen-z-are-getting-their-share-of-the-pie.html "Social Trading is The New Way That Gen Z Are Getting Their Share of The Pie").

It reported a half-year profit of 4.6 [million pounds](https://www.financedigest.com/uk-gives-bbc-world-service-20-million-pounds-to-support-english-language-broadcasting.html "UK gives BBC World Service 20 million pounds to support English language broadcasting") ($5.7 million) versus a loss of 21.3 million in a year earlier.

It said [sales in the seven weeks to March 19 were 9.1% above 2019 levels and 14.9% above a 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") earlier.

($1 = 0.8149 pounds)

(Reporting by Radhika Anilkumar in Bengaluru; editing by Rashmi Aich and Jason Neely)


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