JD Wetherspoon to sell a number of regional Irish pubs

The pub group appointed Savills & CBRE to complete the sales.

JD Wetherspoon has put its regional pub portfolio on the market for €10m.

The British pub chain said it will dispose of licensed properties in Cork, Waterford, Galway and Carlow.

The pub group appointed Savills & CBRE to complete the sales.

The announcement comes after the company reported sales in the first nine weeks of its financial year rose nearly 10% on strong demand for its lower-than-average priced drinks and food amid a cost-of-living crisis.

Resilient customer spending has helped the UK hospitality industry manage pressures from high costs as they continue to recover from the pandemic lows.

However, a cost-of-living crisis remains a threat as cash-strapped shoppers restrict discretionary spending. Like-for-like sales rose by 12.7% compared to the prior year and total sales by 10.6%.

JD Wetherspoon said like-for-like sales increased by 9.9% first nine weeks of the current financial year to Oct 1.

The pub group said profit before tax for the year ended on July 30th was £42.6m (€49.25m), from the £30.4m loss it reported a year earlier.

- Additional reporting by Reuters