Pub trading getting worse, says W&D
Brewer and pub operator Wolverhampton & Dudley (W&D) today reported a 3% fall in profits and warned that business got worse during October and November.
Chairman David Thompson said: ‘Since the summer we have seen more challenging market conditions, and some slowing of consumer expenditure in pubs. This has been more marked in high-street than in community locations, and we believe that our focus on high-quality, freehold, community pubs leaves us well-placed within this environment.’
In the year to 28 September, profit before tax, goodwill and exceptional items dropped to £74m, down from £76.1m in 2001. Turnover fell from £565.4m to £505.6m.