Wetherspoon to Raise Prices as Profits Dip
JD Wetherspoon is set to hike its prices in Ireland as the group announced a dip in the first-half pre-tax profits.
A spokesman for the group told the Irish Daily Mail that the prices of draught pints would go up by 25c and spirits would increase by 50c. "We have ended up importing more than anticipated, which has had a significant impact," he explained.
"We acknowledge these are quite big increases, but believe they are competitive in the local market," he added. Food prices are set to increase also.
Meanwhile Wetherspoon, which has over 900 pubs in its chain, reported that pre-tax profits hit £36 million for the 26 weeks ending 24 January, a 3.9 per cent dip compared to the year before.
Boss Tim Martin (pictured) once again fired shots at supermarket prices, calling the tax disparity on alcohol products between pubs and retailers "unfair".
“We acknowledge the need for companies to pay a reasonable level of taxes, but hope that legislators will make prompt progress in creating a level playing field for all businesses which sell similar products,” said Martin.
There are currently five Wetherspoon pubs in Ireland: four in Dublin and one in Cork. It plans to open 30 venues over the next five years. Recently it has met opposition for its planned 'super pub' on Dublin's Camden Street.