British pub group J D Wetherspoon has reported a roughly eightfold increase in profit in the first half of the year, supported by a gradual easing of costs and an increase in customers coming to grab drinks and food.
Resilient customer spending has helped British pub groups during an uncertain economic environment, even as fears of customers cutting back loom.
As inflationary pressures led to higher costs, Wetherspoon's margins came in at 6.8% for the reported period, still lagging behind the company's pre-pandemic margins of 7.1%.
The group, which owns and operates pubs across the UK and Ireland, reported a profit before tax of 36 million pounds, compared with 4.6 million pounds a year ago.
