Wetherspoon boss Tim Martin has spoken out against the suggestion to use two-third pint glasses in pubs, describing the proposal as “slightly daft” and calling for no further regulations in the pub sector. The criticism came as JD Wetherspoon reported a surge in profits, with increased demand counteracting a decrease in the group’s pub estate. Martin argued that additional regulations aimed at reducing alcohol consumption could lead to more people choosing to drink at home instead of in pubs.
The chairman of JD Wetherspoon expressed scepticism towards a recent study from Cambridge University academics advocating for the use of two-third glasses, also known as schooners, instead of pints. Martin dismissed the idea, pointing out that the use of schooners in Australia did not result in a noticeable decrease in alcohol consumption. He highlighted that reducing glass sizes in pubs may not effectively curb drinking habits and would have no impact on alcohol bought in supermarkets unless container sizes there were also reduced.
Furthermore, Martin criticised rumours about potentially reducing pub and hospitality opening hours, a suggestion that Labour ministers have denied. The pub boss questioned the sensibility of both proposals, emphasizing the importance of considering common sense before implementing new regulations in the industry.
Meanwhile, JD Wetherspoon announced a significant recovery in pre-tax profits, which surged by 73.5% to £73.9 million for the year ending July 28. Despite the positive financial results, profits have not yet returned to pre-pandemic levels. The company experienced a 5.7% increase in revenues, driven by a 7.6% rise in like-for-like sales. However, the growth rate was slightly offset by a reduction in the number of pub sites, with 18 pubs sold and leases terminated on nine others. Two new sites were opened, bringing the total number of pubs in the group to 800.
Although the company aims to expand to 1000 sites across the UK in the long term, it recently downsized its portfolio. JD Wetherspoon disclosed that it generated £8.9 million from pub sales but incurred an exceptional loss of £13.4 million related to the pub disposals.