Spoons bouncing back

PUB giant JD Wetherspoon expects to break even this year after returning to profit in the third quarter – but staff and energy costs are biting.

It said sales in the quarter to April 24 were 4pc down on the same period in 2019. It returned to profit from March 13 and hoped for further gradual improvement. Half-year results in March showed a loss of £21.3m for the six months to January 23.

Chairman Tim Martin said it was ‘cautiously optimistic about the prospect of a return to relative normality’ in the next financial year, but warned over rocketing inflation. Shares fell 1.5pc, or 11p, to 730p.