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Wed 21st Jan 2026 - Update: JD Wetherspoon like-for-like sales up 6.1% in last quarter following strong festive period, issues profit warning after costs ‘higher than anticipated’
JD Wetherspoon like-for-like sales up 6.1% in last quarter following strong festive period, issues profit warning after costs ‘higher than anticipated’: JD Wetherspoon has reported like-for-like (lfl) sales were up 6.1% in last quarter following a strong festive period, but warned that costs have been “higher than anticipated” and its first half profit is expected to dip. In a trading update, the company said in the 25 weeks to 18 January 2026, lfl sales were 4.7% higher than the same period a year ago. Bar sales increased by 6.9%, food by 1.3% and slot/fruit machines by 9.1%, while hotel room sales decreased by 0.7%. It said lfl sales for the last 12 weeks of the 25-week period – the second quarter of the financial year – were 6.1% higher than the same period a year ago, with lfl sales for the main Christmas period, the three weeks from 15 December 2025 to 4 January 2026, up 8.8%. Total sales have grown by 5.3% in the year to date. JD Wetherspoon chairman Sir Tim Martin said: “We are pleased with the sales growth in the financial year, and with the increased momentum in the second quarter. Costs have been higher than anticipated, with energy, wages, repairs and business rates, for example, increasing by £45m in the first 25 weeks. Profits in the first half are likely to be lower than the comparable period in the previous financial year. If the current sales momentum continues, the company currently anticipates a full year trading outcome slightly below that achieved in FY25.” Interest costs for 2026 financial year, excluding IFRS 16 notional interest, are expected to be around £47mi (2025: £49m). Including IFRS 16 notional interest, the annual interest cost is expected to be circa £60m. Debt levels at the end of the 2026 financial year are currently expected to be between £740m and £760 (FY25: £724m). In the year to date, the company has purchased 2,770,750 of its own shares for cancellation at an average price of £7.22 a share. In the year to date, the company has opened six pubs – at London Bridge station, Merchant Square in Paddington, Kenilworth, Basildon, Wetherby and Beaconsfield. The company anticipates opening a total of 15 pubs in the current financial year. Six pubs have been sold in the year, giving rise to a net cash inflow of £3.3m. The company currently has a managed trading estate of 794 pubs. In addition, eight franchised pubs have opened in the year to date, bringing the total number to 16. A further ten to 15 are expected to open in the rest of the financial year, including the company's first opening in mainland Spain, at Alicante airport.

Premium Club subscribers to receive next Who’s Who of UK Hospitality on Friday featuring 105 new companies and 375 updated entries: The next Who’s Who of UK Hospitality will feature 105 new companies and 375 updated entries when it is released to Premium Club subscribers on Friday (23 January), at midday. The database now features 1,387 companies, and this month’s edition includes more than 332,000 words of content. The companies, listed in alphabetical order, will have their most recent developments reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the New Openings Database, the UK Food and Beverage Franchisor Database and the UK Food and Beverage Franchisee Database. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel chief operating officer – editorial, Mark Wingett, and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

Britain’s live music industry has lost thousands of staff and dozens of venues following Labour’s tax raids: More than 6,000 people working in Britain’s grassroots music venues lost their jobs in the wake of Rachel Reeves’ national insurance (NI) hikes, a new report has claimed. The Music Venue Trust (MVT), which works to protect Britain's gig venues, said the total workforce fell dramatically after employers’ NI contributions were hiked to 15% and business rates relief was cut from 75% to 40%. Writing in its annual report, the MVT said operators of grassroots venues have had to slash the number of people they employ just to remain afloat. Overall, the workforce fell from 30,865 people in 2024 to 24,742 last year, representing a fifth of the entire workforce in the sector, as bosses culled part-time and freelance roles in lighting, sound and customer service. On average, each venue now has 15.5 full-time equivalent staff and has slashed freelance and casual roles from 20.7 to 7.6. These cuts, employers told the MVT, were “unavoidable”, and many only survive with the help of volunteers. Even then, venues are operating on shoestring budgets, with more than half failing to report a profit last year despite the sector contributing more than half a billion pounds to the economy. The average profit margin is just 2.5%. Mark Davyd, chief executive of the Music Venue Trust, is calling for the government to reform the way that music venues are taxed. The Trust wants to see VAT cut for gig tickets at small venues, business rates relief and discretionary alcohol duty cuts for venues to help generate income. It estimates that music venues were hit with an additional £7m tax bill as a result last year. “We have reached the limits of what venues can absorb on margins of 2.5%” Mr Davyd said. “This sector has done all it can to keep music live in our communities. It now needs permanent protection, structural reform, and leadership that recognises grassroots venues as essential national infrastructure.” A total of 78 venues have either closed outright or abandoning their efforts to support live music. Of those, 40 said they could not afford to keep running. The MVT has also stepped in to help more than 100 venues that were struggling with their finances. It is investing £2m into schemes designed to support struggling venues with everything from helping them to save money to energy bills. Artists like Coldplay, Pulp and Wolf Alice were among those to set aside a chunk of their UK income for a levy which will be funnelled back into grassroots music. Venues including the O2 and the Royal Albert Hall have also committed to contributing towards the newly established LIVE Trust, which will coordinate the distribution of funds. The MVT will receive grants from LIVE for its own initiative, the Liveline Fund, which it will use to help fund live music tours in lesser-visited UK towns and cities. The government is supporting the levy on a voluntary basis – but the Trust has gone a step further and says ministers must make it a legal requirement of gig ticket sales if an optional Levy has not demonstrated its worth by June. Mr Davyd added: “The future of British music depends on stabilising and rebuilding the grassroots touring network. The arrival of Grassroots Levy funding in 2026 will provide the opportunity to take a radical new approach and that is exactly what we intend to do. The music industry itself is in the last chance saloon with regards to the levy; if voluntary industry action does not deliver by June 2026, the government must legislate.” Responding to the report, creative industries minister, Ian Murray said: “Grassroots venues are vital to the UK's music culture, offering emerging artists a platform, supporting local economies and creative jobs. That is why we are committed to working with the sector to support the sustainability of the entire music ecosystem and continue to encourage the live music industry to adopt a voluntary £1 levy on tickets for stadium and arena shows to help safeguard the future of grassroots music alongside our £30m music growth fund and our record innovation funding.”

Manorview Hotels shares profits with its team: Manorview Hotels, the operator of 11 boutique hotels, restaurants and bars across central Scotland, has shared its profits with its team. It is sharing £135,766 of profit with more than 300 team members across the business. Manorview’s ‘Heartcount’ scheme sees the business annually share 10% of net profits with its team, and everyone who has been with the business for a year or more qualifies. Individual amounts are calculated based on hours worked – not on job title or pay – meaning directors and managers get the same as chefs and kitchen porter for the same hours. Heartcount is the only monetary based bonus at Manorview, having moved away from performance or target related bonuses several years ago. Dani Fraser, head of people at Manorview, said: “We are very proud of our Heartcount profit share scheme. Everyone, regardless of role, makes a positive contribution to Manorview, and it’s only right that they then receive something in return. We are pleased that we’ve been sharing profits for seven years now, and to date, more than £968,000 has been shared fairly with our committed and caring team. Fairness is at the heart of so many of our decisions, and the fact it’s not just senior or sales team who make things happen here is why we structure Heartcount in the way we do.” Earlier this month month, Manorview reported that turnover rose to £25,523,206 in the year to 31 March 2025, up from £24,220,031 the year before. Its operating profit jumped to £3,048,263 from £1,524,764 the year before. Loss before tax was £501,229 after interest payments and the write-off of an irrecoverable inter-company loan of £1,933,777 – the previous year saw a loss of £259,579.
 
Prince William champions the British pub: Prince William has committed to championing British pubs, declaring them essential spaces for fostering genuine human connection and serving as community anchors. During a visit to The Gothenburg pub in Fallin, a former mining village situated four miles east of Stirling, the Prince of Wales expressed his deep affection for pub culture. “I want to help pubs. This is the best place to come and get to know each other,” he said, describing local establishments as “the heart of the community”. The heir to the throne, who ordered half a pint of cider during the Scottish engagement, added: “I grew up in pubs. I absolutely love pubs.” His pledge comes amid a deepening crisis for the British pub industry, with approximately one shutting permanently each day across England and Wales throughout 2025, reports The Telegraph. Pub landlords have warned their businesses face collapse due to escalating costs, particularly following business rates adjustments announced in Rachel Reeves’ Budget, which have seen some venues’ tax obligations double overnight. Ministers have indicated they are developing relief measures, but specific details are yet to emerge. The Gothenburg operates under a distinctive model that channels profits directly back into the local area, including providing subsidised rental accommodation for young people saving towards home ownership. Beyond serving drinks, the venue functions as a hub for community activities such as bowls. After hearing about these social benefits from locals, Prince William emphasised the value of face-to-face interaction. “It’s crucial. It’s the human-to-human contact, isn’t it, rather than just being on the phone or watching TV,” he added.

Primary school teacher sues Go Ape for £60,000 after shattering leg on ‘slide for three-year-olds’: A primary school teacher is suing adventure playground company Go Ape for £60,000 after shattering her leg on a slide “aimed at children” as young as three. Rosemary Mountain suffered a “severe” fracture when her trainer got caught and her leg was “dragged round behind her” while coming down a 10 to 12m long Big Bounce netted fabric tube slide at Go Ape’s Black Park adventure site near Slough in February 2019, reports The Independent. The 50-year-old was left with a leg broken in so many places it was “floppy” after the accident on the slide in the site's Nets Kingdom area, which Central London County Court heard was designed for three to 12-year-olds. Mrs Mountain, who teaches year one and two, is now suing Adventure Forest Ltd, trading as Go Ape, for about £60,000 over her injuries, claiming the slide, which was later replaced, was “too dangerous” and “not reasonably safe for operation”. But Go Ape is denying all blame and insist there was nothing unsafe about the Nets Kingdom, which was “installed by industry specialists” and regularly inspected for potential hazards. Lawyers for the company also say that Mrs Mountain signed a disclaimer accepting that she was at risk of injury before she went into the Nets Kingdom. The court heard that Mrs Mountain was on a half term visit to the Black Park Go Ape with her husband and her young children in February 2019 when the accident happened. After the horrific break, she had to be cut out of the netting at the bottom of the slide before being taken to hospital. She told the court she had previously been an “outdoorsy adventurous person,” but after the leg break had to undergo extensive surgery, remains plagued by chronic pain and is unlikely to ever return to running or her previous “active lifestyle”. David White, barrister for Go Ape, said Mrs Mountain had signed a disclaimer before entering the course, telling her: “As with any physical activity, there is a degree of risk...this was an activity which involved the risk of suffering injury and you knew that when you agreed to do it.” She replied: “We signed to say there's a risk of bumps and scrapes, but not this sort of injury. It says on the description that it's suitable for three-year-olds, so I didn't expect to break my leg in the way that I did. I know it says it's risky, but it didn't look risky and it said it was for young children.” Dave Daborn, co-owner of Go Ape and site manager at the time, confirmed Mrs Mountain's barrister's assertion that “this was an area which was aimed at children”. He said: “Our target market was under-12s, but older children and adults were welcome.” Go Ape later removed the net slide and substituted a rigid one in its place.

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