Wetherspoon cautious about prospects

Pubs chain JD Wetherspoon sounded a note of caution today after delivering a strong rise in half-year profits.

The group, which operates 662 pubs, said like-for-like sales were likely to slow from the 7.4% seen in the first half to between 2% and 4% in the second.

It blamed tougher comparisons with a year ago and said higher wages and utility costs meant it was cautious about the outcome for the second half.

Half-year profits rose to £32.9m (€49m) from £27.4m (€40.5m) a year earlier, with shareholders set for a 150% jump in the company’s interim dividend.