Wetherspoon in sunny mood despite profits fall

Tim Martin, founder and chairman of JD Wetherspoon, was in glass-half-full mood today, telling investors the second half would probably be better than the first, in which profits dipped 4% to £36 million.

“I’m anticipating sub-tropical temperatures across the country for the coming months,” joked Martin before adding: “The comparatives are more favourable with bigger wage rises last year and slightly better margins.”

Sales from pubs open at least a year are up 3.7% in the past six weeks against a 2.9% rise in the first six months of the financial year to a total of £790 million.