Tim Martin, the chief executive of Wetherspoon, has dismissed as “somewhat absurd” the suggestion from scholars to serve beer in two-thirds pint glasses, also known as schooners, saying that additional rules exhibiting a spread in the pub industry already strained. He insists that such measures could potentially move more British people to drink at home rather than in pubs.
Martin took issue with a new study suggested by Cambridge University researchers last month, asking the government to abandon pint-sized beer servings in favour of two-third pint schooners. He argued that the use of such glasses in Australia has not resulted in “any significant drop in consumption”.
He reasoned that it is unlikely that downsizing glass portions would decrease alcohol consumption in pubs, owing to human behaviour, and would have no impact on alcohol bought from supermarkets unless their container sizes were also reduced impractically. He also denounced rumours about the government considering limiting pub and restaurant operating hours, a suggestion Labour ministers have since refuted.
On a financial note, Wetherspoon recently disclosed a 73.5 per cent surge in pre-tax profits to £73.9 million (€88.2 million) for the year up to July 28th, reflecting a recovery in earnings for the pub chain, albeit still below pre-Covid levels. This was seen in conjunction with a 5.7 per cent rise in revenues to £2.04 billion, propelled by a 7.6 per cent increase in comparable sales, despite a reduction in the number of pubs.
The company has seen a drop in its portfolio recently, selling 18 pubs and ending leases on nine others, though it opened two new sites. Despite presently managing 800 pubs, the firm maintains its ambition to grow to 1,000 pubs throughout the UK.
Publican Wetherspoon has revealed that they made a cash profit of £8.9 million through the sale of its pubs. However, an exceptional loss totalling £13.4 million has been reported in its accounts due to these disposals. – PA