Wetherspoon plans Dublin, Cork pubs

Britain’s JD Wetherspoon is set to open its first pubs in the Republic this year, with the aim of expanding to up to 30 sites in the longer term.

The firm, which yesterday reported an expected 6.3% rise in annual profit to £76.9m (€91.76m), has grown to over 880 pubs in Britain on the back of value promotions such as “curry club” and “beer and a burger” offers.

Wetherspoon chairman and founder Tim Martin said the improving performance of its nine pubs in the North had given it confidence to move to the Republic, adding that property prices were no longer so prohibitive.

The group wants to open three or four pubs this fiscal year and is looking at sites in locations including Dublin and Cork.

“The Republic has got more than double the population (of the North) and so our aspiration would be 20 or 30 in the longer term,” said Mr Martin.

According to recent industry data, almost one pub a day is closing in Ireland following an increase in excise duty on alcohol last year, while in Britain the number is closer to 26 a week as cash-conscious consumers visit pubs less.

Wetherspoon, whose value offers have helped it become one of the industry’s best performers in the downturn, saw revenue up 7% to £1.28bn in the year to July 28.

Reuters