Shares in Pubs ‘n’ Bars, the community pubs group, fell by more than 17% after the company issues a profits warning. The group, which runs 110 pubs, said that reduced consumer spending in its bars was being exacerbated by cut-price alcohol sales in supermarkets, along with pressure from increased finance and operating costs. Annual pre-tax profits are set to be below present market expectations. The Times (Business) 20/09/08 page 73