British pub group J D Wetherspoon JDW.L reported on Wednesday higher sales in the last 25 weeks, lifted by strong demand for its drinks and food during the festive season.
The group, which owns and operates pubs across the UK and Ireland, reported a 10.1% growth in like-for-like sales for the 25-week period ended Jan. 21, while the last 12 weeks, which included the Christmas holidays, witnessed an 11.1% jump from a year earlier.
Britain’s hospitality industry, which has seen a slow yet consistent recovery, from its pandemic lows, continues to face high costs in labour and energy, while resilient customer spending has helped the sector during an uncertain economic environment.
Bar sales jumped 11.8% in the 25 weeks, while food sales rose by 7.9%
Data from Barclays earlier this month showed that shoppers spent more at pubs and clubs during the festive season, while they cut back on spending at supermarkets and petrol stations.
The group expects its annual results to be in line with market expectations, Chairman Tim Martin said in a statement.
(Reuters)