Pub chain’s costs threat

JD WETHERSPOON warned it has faced ‘significant cost increases’ in the second half of the financial year as it revealed third-quarter sales had risen 2.8pc.

The pubs company said its rate of growth had slowed by about 0.5pc on the previous year, but blamed it on the timing of the early May bank holiday this year. Since the start of the financial year the firm has opened five pubs – though 19 were sold.

Chairman Tim Martin said: ‘We continue to anticipate a trading outcome in line with our previous expectations.’ Shares fell 0.4pc, or 5p, to 1177p.