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JD Wetherspoon swings to loss in H1 as shuttered pubs dent performance
StockMarketWire.com
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Pub group JD Wetherspoon swung to a first-half loss as the government imposed restrictions forced the company to shutter its pubs.
For the half year ended 24 January, pre-tax loss was £68.0 million compared with a profit of £35.7 million on year-on-year as revenue fell 54% to £461.1 million.
The company did not recommended the payment of an interim dividend.
The company's chairman continued to rail against government-imposed restrictions.
'It is disappointing that so many regulations, implemented at tremendous cost to the nation, appear to have had no real basis in common sense or science - for example, curfews, "substantial meals" with drinks, and masks for bathroom visits,' Wetherspoon Chairman Tim Martin said.
Wetherspoon announced that it would be opening beer gardens, roof-top gardens and patios at 394 of its pubs in England from 12 April 2021.
Story provided by StockMarketWire.com
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