Pub firm boss hits out at EU oligarchs
JD Wetherspoon’s Brexitbacking chairman took aim at EU “oligarchs” as the pub firm posted results showing rising sales and profits.
Revenue rose 4.1% to £1.66billion in the 12 months to July 30 as the group booked pre-tax profits of £102.8 million, a year-on-year increase of 27.6%.
Like-for-like sales rose 4% in the period, with Wetherspoon saying comparable sales had increased by 6.1% since August.
Chairman Tim Martin said: “This is a positive start, but is for a few weeks only and is very unlikely to continue for the rest of the year.
“Comparisons will become more stretching and sales, which were very strong in the summer holidays, are likely to return to more modest levels.
“It is anticipated that like-for-like sales of
“Previously accused the EU of bullying the UK over Brexit”
around 3-4% will be required in order to match last year’s profit before tax.”
Mr Martin has previously accused the EU of bullying the UK over Brexit. He has also lashed out at former chancellor George Osborne, the International Monetary Fund, the Bank of England, the CBI, Goldman Sachs, Morgan Stanley and PwC, who he claimed were all too negative about Brexit.
Yesterday, he said: “Politicians from the UK are dealing with unelected oligarchs from the EU. As a result of their current posturing and threats, EU negotiators are inevitably encouraging importers like Wetherspoon to look elsewhere for supplies.”
Wetherspoon’s biggest ever single investment is going into the EU through a new pub and 98-bedroom hotel in Dublin.