By M&C Report team2010-08-26T11:56:00+01:00
JD Wetherspoon has released its full year results which lay bare the impact of the coronavirus on sales and profits. Sales were down 30.6% to £1,262m while it made a £34.1m pre-tax loss, down 133% on the previous year. Chairman Tim Martin slammed the government’s handling of the situation and the effect it’s having on the hospitality industry. “For the two months following reopening, it appeared that the hospitality industry, in difficult circumstances, was adapting to the new regime and was getting ‘back on its feet’, albeit in survival mode,” he said.
Wetherspoon has announced that 400-450 jobs at its airport pubs are at risk of redundancy.
Wetherspoon is to cut the price of all food and drink on Thursday 24 September as it hosts a ‘Tax Equality Day.’
England will be left with just a fraction of its pubs being able to trade in conditions resembling normal, the country set to go back into “lockdown in all but name”.
Hawthorn is an ambitious company, that’s something chief executive Mark Davies is very clear on. Speaking to MCA following the group’s half-year financial results, which reported its 700-strong estate had outperformed the market for the six months to 30 September 2020, Davies is in the enviable position of being able to look ahead, and he isn’t holding back in his plans for the business going forward. “We want to be the number one community pub company,” he says. “If anything, the pandemic has endorsed our strategy of focusing on community pubs, and our intention is to keep at it. We have the team to do it and the desire, so watch this space.”
Fuller’s has said sales for the first half of the year (for the 26 weeks to 26 September 2020) hit £45.6m, down from £167.1m it made last year. It also reported an adjusted loss before tax of £22.2m compared to a profit of £17.9m last year. “The tightening of the tier system will present further challenges over the winter months, but we welcome the Prime Minister’s comments that we will see the need for restrictions fall away in the spring,” said CEO Simon Emeny. “When the current lockdown was announced, we acted swiftly to implement the lessons learned last time round and this latest closure has been made with minimal stock losses.
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