- The pub firm like-for-like sales increased by 7.7 per cent for the year to date
- In 2015 the chain had 950 venues, that number currently sits at 801
Pub chain JD Wetherspoon has revealed sales are at record levels despite axing 24 branches as boss Tim Martin has called for the government to implement equal tax for drinks at pubs and supermarkets.
Despite windy and wet weather in recent weeks, the popular boozer shared that like-for-like sales had increased by 5.8 per cent in the ten week run up to July 7 – and by 7.7 per cent for the year to date.
Wetherspoon boss Sir Tim Martin, 69, revealed the record levels despite having fewer venues in comparison to twelve months ago.
At it’s peak in 2015, the pub firm had around 950 venues dotted around the UK, currently that number now sits at 801, with the chain revealing they closed venues which were ‘smaller and older’, or nearby another site.
In the year-to-date, the pub chain has opened two pubs but sold or surrendered the lease on 26 pubs.
JD Wetherspoon boss Sir Tim Martin has called on the government to equalise tax between pub and supermarket drinks as his pub firm records ‘record level’ sales
The increase of like-for-like sales comes as the company has surrendered the lease or sold 26 pubs and opened two other venues (file image)
JD Wetherspoon added that a further 10 trading pubs are either on the market or under offer.
However, the business still aspires to meet their long-term hopes of growing the chain to 1,000 venues despite closing some of branches, amid efforts to reduce its debt burden.
The pub firm plans to open new venues in Waterloo and Fulham Broadway stations in London and Marlow, Buckinghamshire over the next few months.
On Wednesday, the pub firm shared their expected net debt to be around £670 million at the end of the financial year.
In the update, Sir Tim also renewed his calls for the Government to equalise the tax paid on drinks between his pubs and supermarkets.
‘The average Wetherspoon pub has generated taxes of one sort or another of £7 million in the last 10 years, as well as generating considerable employment and social benefits,’ he said.
‘The last government failed to implement tax equality between pubs and supermarkets, leading to pub closures and underinvestment.
‘Wetherspoon hopes that the current Chancellor, with a Bank of England pedigree, will understand how many beans make five, and rectify this inequality.’
This comes shortly after the pub boss announced he would not be backing any political party before this years general election.
He had previously supported the Conservatives and Reform in the past and donated £200,000 to the Vote Leave campaign in 2016.
This comes after the pub boss chose not to back any political party in this year’s general election (pictured: Keir Starmer)
He previously backed former PM Boris Johnson in his 2019 election campaign
The Wetherspoon chief pictured with Nigel Farage in 2019. He backed Farage’s Reform party in 2021 when it was set up
At the last election in 2019, the founder and chairman of the pub chain gave £50,000 to a Boris Johnson-led Conservative Party.
Two years later, the prominent Brexiteer handed Reform UK £25,000 when it was established by Nigel Farage and Richard Tice.
The businessman has also donated money to the Labour Leave pressure group.
He told The Telegraph: ‘For a number of years I donated to the Brexit Party, Reform and Labour Leave.
‘I decided not to back any party in this general election, which was my approach in all general elections before the referendum. I have made no donations to political parties this year.’