Wetherspoon CEO Tim Martin has spoken out against a proposal to serve beer in two-third pint glasses, calling it “slightly daft” and urging for no further regulations in the pub sector. He believes that introducing more regulations to reduce alcohol consumption could lead to more people drinking at home rather than in pubs.
Martin criticized a recent study by Cambridge University academics that suggested using two-third glasses, known as schooners, instead of pints. He argued that reducing glass sizes is unlikely to actually decrease alcohol consumption in pubs, and would have no impact on drinks purchased in supermarkets unless container sizes were also reduced.
In addition to his concerns about glass sizes, Martin also dismissed speculation that the Government might reduce pub and hospitality opening hours, stating that neither of these proposals make sense.
Despite these challenges, Wetherspoon reported a 73.5% increase in pre-tax profits to £73.9 million for the year ending in July. This growth was driven by a 5.7% increase in revenues to £2.04 billion, supported by a 7.6% rise in like-for-like sales.
However, the company did experience a decrease in the number of pub sites, selling 18 pubs and terminating the lease on nine others. Despite this, Wetherspoon remains committed to its long-term goal of expanding to 1,000 sites across the UK, even though it currently operates 800 pubs.
Overall, Wetherspoon’s financial results demonstrate a positive trend in terms of profitability and sales growth, despite facing challenges in the pub sector. Martin’s criticism of proposed regulations highlights the delicate balance between public health concerns and the economic viability of the hospitality industry.
