PUBS group JD Wetherspoon served up a gloomy forecast after revealing that sales had deteriorated in the past three months.
It said tax increases, higher interest charges and the risk of dampened consumer spending meant it was “slightly more cautious” about the next financial year.
Like-for-like sales for the 13 weeks to April 25 were down 0.8%, compared with a 0.2% decline over the nine months of the financial year so far.
And total company sales increased 3.6% in the third quarter – against 4% in the year to date.
However, margins held up in the three months and the company said profit and cashflow continued to be “resilient” despite price rises in January and March caused by higher VAT levels and an increase in excise duty for pubs.
The group operates 767 pubs nationally and almost 30 in Merseyside, where it is investing in new sites.
Its most recent was a £745,000 facelift at the Childwall Fiveways pub, which was acquired from Punch last November.
