Pub chain Wetherspoons said in quarterly results on Wednesday it would look to sell off more properties despite growing sales, as it adjusts its strategy towards larger, newer pubs.
It saw a bump in sales of 5.8% in the 10 weeks to 7 July 2024, compared to the same period last year. In the year-to-date, it said like-for-like sales increased by 7.7%.
It will look to sell 10 more pubs, on top of the 26 already sold from the estate.
“The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year. Total sales are, again, at record levels, with fewer pubs,” said CEO Tim Martin. “Sales per pub are approximately 21% higher than pre-pandemic levels, which has helped to compensate for the very substantial increase in costs.”
Martin also called on the government to implement “tax equality” between pubs and supermarkets.