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5 months ago
Pubs operator JD Wetherspoon sees slower sales, warns on taxes
March 10, 2017 / 8:08 AM / 5 months ago

Pubs operator JD Wetherspoon sees slower sales, warns on taxes

March 10 (Reuters) - British pubs operator JD Wetherspoon reported its slowest sales growth in at least seven years on Friday and warned higher taxes would squeeze future results.

Wetherspoon said revenue rose 1.4 percent to 801.4 million pounds ($975 million) for the half year to January 22, down from growth of 6.2 percent a year earlier.

Pretax profit after exceptional items rose 9 percent to 39.9 million pounds.

Following the British government's 2017 budget announced on March 8, the company, which is already grappling with higher costs, said it faced an increase in taxes and duties of at least 20 million pounds next year.

In January it warned of lower like-for-like sales in the next six months.

$1 = 0.8223 pounds Reporting by Abhijith Ganapavaram in Bengaluru; editing by Jason Neely

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