J D Wetherspoon and Greene King report steady sales post-Brexit

September 9th, 2016 | Posted in: News

Two of the UK’s biggest pub operators – J D Wetherspoon and Greene King – have reported steady sales despite fears over a Brexit backlash.

J D Wetherspoon today reported a strong 12.5% rise in full-year pre-tax profits to £66m.

Company Chairman Tim Martin said a sales increase of 4.1% since its year end on July 24 is “encouraging”, and blasted both Brexit sceptics and the need to push for a trade deal with the EU.

He said, “Now that the gloomy economic forecasts for the immediate aftermath of the referendum have been proven to be false, ‘Scare Story 2’ is that failure to agree on trade deal with the EU will have devastating consequences.

In contrast, Wetherspoon’s experience indicates that reaching formal trade deals with reluctant counterparties is impossible – and it is unwise to try.”

Leading pub retailer and brewer Greene King also today announced steady progress among its main trading businesses in 2016.

Pub Company delivered a like-for-like (LFL) sales growth of 1.7% rise in the first 18 weeks of the year, while Pub Partners noted a 4.5% increase in its LFL net income after 16 weeks.

Yet in a statement, Greene King admitted that uncertainty over the UK’s future break from the EU had created a “softening of some economic indicators and a reduction in consumer confidence” and that the company is “alert to a potentially tougher trading environment ahead.”

The Financial Times today reported that while Wetherspoon’s shares are enjoying a 3.1 per cent bump to 953.3p in early trading, Greene King shares are off 3.75 per cent to 809.8p.


Do you think you know the best cocktail bar in Scotland or do you think you ARE the best Cocktail Bar in Scotland?

Fri 19th April 2019

If so why not enter the Tia Maria Cocktail Bar of the Year category at this year’s Scottish Bar and Pub Awards? Judges will be looking... Read more.

Are you a social media savvy business?

Fri 19th April 2019

Social Media is very important when it comes to promoting your business and hollicom and the Scottish Bar and Pub awards 2019 want to hear f... Read more.

Which Scottish beer bar is king?

Fri 19th April 2019

Molson Coors and Judges from the Scottish Bar and Pub Awards are looking for Beer Bar of the Year. will be looking for an outlet with a rang... Read more.

Step forward Scotland’s best new bar

Fri 19th April 2019

Kopparberg is on the lookout for Scotland’s best new bar as part of the Scottish Bar and Pub Awards 2019. The Kopparberg team is looking f... Read more.

Calling all environmentally conscious hospitality businesses

Fri 19th April 2019

Sea Change is a range of environmentally conscious wines that are now being distributed by Inverarity Morton and this year, in the same spir... Read more.

We want to hear from you if you run Scotland’s best whisky bar

Fri 19th April 2019

Gordon & MacPhail’s Connoisseur’s Choice range gives a platform to many of Scotland’s single malt distilleries from across all reg... Read more.

Do you run Scotland’s best Hotel Bar? Would you like to nominate one?

Fri 19th April 2019

Hotel Scotland, Scotland’s only dedicated hotel publication, is on the lookout for Hotel Bar of the Year as part of the Scottish Bar and P... Read more.

We’re looking to crown Scotland’s best casual dining experience

Fri 19th April 2019

The Scottish Bar and Pub Awards 2019 is looking for a restaurant that also boasts a bar, that has created the perfect ambiance and food offe... Read more.

Do you know a budding Scottish entrepreneur? Are you one?

Fri 19th April 2019

Buzzworks and Flow are partnering to offer one emerging entrepreneur the opportunity to be mentored by one of the industry’s most experien... Read more.

Which Scottish pub excels at customer service?

Fri 19th April 2019

Customer service is paramount when it comes to running a successful business. BII Scotland is on the lookout for a pub, restaurant or hotel ... Read more.

Which Scottish pub wins the woof and wag test?

Fri 19th April 2019

The Scottish Bar & Pub Awards is hunting for a pub that provides a welcome for pet dogs.... Read more.

Disaronno celebrates Disaronno Day with ‘The Longest Shift’

Fri 19th April 2019

Italian liqueur coins ‘Disaronno Day’ with a 24-hour bar shift across the globe in celebration of Disaronno Day on 19th April, D... Read more.

It’s time to vote for Pub of the Year 2019 or to get your customers to vote for you

Thu 18th April 2019

This year the Sunday Mail Pub of the Year Award will go to the ‘best of the best’ at this year’s Scottish Bar and Pub Awards. This... Read more.

Do you think you know the best cocktail bar in Scotland or do you think you ARE the best Cocktail Bar in Scotland?

Thu 18th April 2019

If so why not enter the Tia Maria Cocktail Bar of the Year category at this year’s Scottish Bar and Pub Awards? Judges will be looking... Read more.

Are you a social media savvy business?

Thu 18th April 2019

Social Media is very important when it comes to promoting your business and hollicom and the Scottish Bar and Pub awards 2019 want to hear f... Read more.

Which Scottish beer bar is king?

Thu 18th April 2019

Molson Coors and Judges from the Scottish Bar and Pub Awards are looking for Beer Bar of the Year. will be looking for an outlet with a rang... Read more.

Step forward Scotland’s best new bar

Thu 18th April 2019

Kopparberg is on the lookout for Scotland’s best new bar as part of the Scottish Bar and Pub Awards 2019. The Kopparberg team is looking f... Read more.

Calling all environmentally conscious hospitality businesses

Thu 18th April 2019

Sea Change is a range of environmentally conscious wines that are now being distributed by Inverarity Morton and this year, in the same spir... Read more.

Do you run Scotland’s best Hotel Bar? Would you like to nominate one?

Thu 18th April 2019

Hotel Scotland, Scotland’s only dedicated hotel publication, is on the lookout for Hotel Bar of the Year as part of the Scottish Bar and P... Read more.

We want to hear from you if you run Scotland’s best whisky bar

Thu 18th April 2019

Gordon & MacPhail’s Connoisseur’s Choice range gives a platform to many of Scotland’s single malt distilleries from across all reg... Read more.