Cumbrian pubs help Wetherspoon chain record sales rise
Last updated at 15:20, Thursday, 03 May 2012
Pubs in Workington, Carlisle and Whitehaven contributed to a recession-busting rise in sales for drinks giant JD Wetherspoon.
The firm said sales at its 850 pubs rose two per cent in the 13 weeks to April 22, despite Britain slumping into a double-dip recession in the same period.
But the company fired an angry broadside at the Government saying its total tax bill would top £500m this year, which was acting as a brake on growth.
As a result, bosses say they will cut the number of new pubs the company plans to open from 40 to between 20 and 30 in the next 12 months.
JD Wetherspoon runs Cumbrian boozers including the Woodrow Wilson in Carlisle, Workington’s Henry Bessemer and the Bransty Arch, Whitehaven.
“We have created approximately 3,000 jobs in the same period, but all of the economic benefits of our expansion are currently being levied by the Government as taxes – an unsustainable situation,” the company said in a statement.
Its tax bill includes recent increases in excise duty, business rates and carbon tax.
The chain is particularly unhappy that pubs have to pay 20 per cent VAT on food sales while supermarkets pay “virtually nothing”.
It added in a trading update: “The overall level of taxes and the disparity with supermarkets have greater economic effect in less affluent parts of the UK.
“The result is that the majority of prominent pub and catering companies are investing in the southern part of the UK and in major town and city centres elsewhere, contributing to serious economic problems for many high streets in Britain and Northern Ireland.”
Continuing cost pressures resulted in a deterioration in its operating margin but this should improve in the current quarter.
It added: “We continue to be slightly more cautious about the potential outcome for the current financial year.”
First published at 11:29, Thursday, 03 May 2012
Published by http://www.newsandstar.co.uk
- Alert over door-to-door fish sales in Cumbria
- Sarah Millican Barrow tickets sell out in 45 minutes
- Work on £5m Barrow regeneration project starts this month
- Lake District rescue team assist walkers lost in the dark
- Police appeal after report of inappropriate conduct towards girl in Barrow
- Weather warning for Cumbria - gales expected
- Police investigating collision at Barrow taxi firm
- Pupils hit a high note at South Cumbria Musical Festival
- Concerns over increase in violence at Cumbria prison
- Electric barriers result in outrage among Haverigg residents
- Barrow AFC held by Bradford Park Avenue
- Edmo urges Barrow AFC fans to raise the volume
- Loan ace in line to earn permanent Barrow AFC switch
- Casson confident over Barrow AFC title bid
- Wilson hails Barrow AFC squad strength
- Barrow AFC boss facing selection headaches
- The Weekly Meeks: Bradford clash will be no walk in the Park
- Walney Cents' Finch back for top-of-the-table clash
- Hawcoat Park aim to produce another big home display
- Kirkby look to steer cup treble chasers off course
Visit our websites for...
Great Daffodil appeal 2015
Homes and gardens 21
Power to switch
Walk to remember
Choosing a secondary school
To save our contact details direct to your smartphone simply scan this QR code
|Evening Mail Going Out|