Wetherspoons shares surge over 10% as profit outlook improves on easing cost pressures

Founder and chairman of Wetherspoons, Tim Martin said he anticipates profits in the current financial year 'to be in line with market expectations'. Picture: Dominic Lipinski/PA Wire

Wetherspoons pub chain shares surged more that 10% after it said a recent improvement in sales and reduced cost pressures are set to drive an “improved” financial performance next year.

The company, which operates inexpensive pubs for punters in the UK and Ireland, said easing energy costs in particular will boost the company’s performance in the next financial year.