Wetherspoon boss Tim Martin has dismissed as “slightly daft” the proposals put forward by academics to introduce two-third pint measures in pubs. The founder and chairman of JD Wetherspoon called for no further regulations to be imposed on the pub industry, stating that additional restrictions could drive more people to drink at home rather than in pubs.
The criticism from Mr Martin came following a study by Cambridge University academics that suggested serving beer in two-third pint measures could help improve public health by reducing alcohol consumption. However, Mr Martin argued that reducing glass sizes in pubs would not necessarily lead to a decrease in alcohol consumption, pointing out that similar measures in Australia did not result in a noticeable reduction in drinking levels.
The Wetherspoon chairman also voiced concerns over speculation that the Government might consider reducing pub and hospitality opening hours. While there were rumours about potential cutbacks in trading hours, Labour ministers have denied any such plans. Mr Martin described these proposals as failing the common-sense test.
Despite the challenges facing the pub sector, Wetherspoon reported a rebound in profits, with pre-tax profits increasing by 73.5% to £73.9 million for the year ending July 28. This improvement was driven by a surge in demand, which helped offset a decrease in the number of pubs within the group’s estate. Revenue also saw a growth of 5.7% to £2.04 billion, primarily due to a 7.6% rise in like-for-like sales.
Despite selling off 18 pubs and terminating leases on nine others, Wetherspoon remains committed to its long-term expansion goal of reaching 1,000 pub sites across the UK, even though its current portfolio stands at 800 pubs. The company generated £8.9 million in cash through pub sales but recorded an exceptional loss of £13.4 million related to the pub disposals.