Wetherspoons shares climb 17% as pubs chain cuts losses

Wetherspoons chairman Tim Martin warned that Covid lockdowns and restrictions are "perhaps the biggest threat to the hospitality industry".

The pub chain Wetherspoon has reiterated its desire to expand operations in Ireland.

Shares in Wetherspoons jumped 17% as the pubs chain surprised investors with lower-than-expected losses, despite the huge increase in costs amid the inflation crisis bearing down on hospitality businesses.

Wetherspoons has over 850 pubs, which are located mostly in Britain, but also has a handful of outlets in Ireland, including in Dublin, Belfast, and Cork, and has long stated its ambitions to open new Irish pubs.