Two Billion Quid and Still Skint - Spoons sales up, profits down

Tim's empire is ringing up more than ever. According to The Morning Advertiser, JD Wetherspoon's revenue climbed 5.2% to £2.238bn for the 52 weeks to 26 July 2026. Underlying pre-tax profit went the other way though, sliding from £81.4m to £58.6m.

The bar is doing the heavy lifting. Like-for-like sales rose 4.2% overall, with bar sales up 6.1% and food up a more modest 1.2%. Costs rose 5.3%, including an extra £46m on wages, £31m on repairs and £9m more in business rates. Compared with 2019, Spoons says wages are up 64.4% and energy 77.4%.

Its new financial year has started hot, with like-for-like sales up 8.6% in the nine weeks to 27 September, which the group puts down to the weather and money spent on beer gardens. It ended the year with 792 managed pubs, 87 fewer than in 2019, and plans to open about 15 more this year plus more franchised sites. Tim Martin, never shy, blamed government tax and regulation and said pubs are now pricier than supermarkets.

So what for hospo people? That extra £46m wage bill is partly you, mate, and it's the cost line growing fastest. With roughly 15 new managed pubs on the way, Spoons is still hiring. Keep the garden tidy, because apparently it's carrying the business.