JD Wetherspoon sees profit drop by 11pc

JD Wetherspoon reported an 11 per cent decline in first half pre-tax profit, blaming higher interest charges following the renewal of its bank facilities in March last year.

The company, which has 787 pubs across Britain made a pretax profit of £32.2m in the half year to 23 January, down from £36.2m the year before. Revenue was up by 7.6 per cent to £525.4m.