Pub group JD Wetherspoon will cut the price of its breakfast and coffee, in a bid to triple sales across its pubs.
The group announced its results for the last six months leading up to the end of January which showed a slight dip of 0.9 per cent in profit before tax, reaching £37.5 million. Revenue, however, was up nine per cent.
To combat the shrinking profits, for which Wetherspoon blamed cheap supermarket alcohol prices, the chain will lower its breakfast and coffee prices from 19 March.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
A full breakfast will now cost just £2.99 (€4.20). With a filter coffee costing just €1 and cappuccinos at €1.50 already, it is clear that by lowering these prices Wetherspoon is taking on local coffee chains and cafes, where a regular cappuccino can cost over €3.
The group sold approximately 50 million coffees and 24 million breakfasts across its 900 pubs last year. It hopes to triple those numers in the next 18 months.
There are currently two Wetherspoon pubs in Ireland, both based in south Dublin, with four more coming soon. Plans for a further 30 sites to open over the next five years are also in place.
Wetherspoons chief Tim Martin has previously taken aim at cheap supermarket prices, advocating tax reform to combat the price gap.