Wetherspoon has announced a pre-tax profit of £73.9m for the year ending 28 July, an increase from £42.6m the previous year. The company’s revenues surpassed £2bn during this period, climbing from £1.9bn last year. Currently, Wetherspoon operates 800 pubs, a decrease from 879 in 2019, but chairman Tim Martin sees potential for growth to 1,000 locations.
SSP Group has recorded a 12% increase in UK sales for Q4, along with a 9% rise in like-for-like sales. This growth was fueled by strong demand in the air travel sector, reduced rail disruptions compared to the previous year, and effective operational management during the busy summer months.
Inception Group’s turnover grew by 16.7% to £26.5m in 2023. The hospitality group, which includes venues like Bunga Bunga, Cahoots, and Mr Fogg’s, anticipates a “record-breaking” 2024 with projected revenues of £29m. However, the group’s EBITDA for the year fell to £3m, slightly down from £3.4m in 2022.
The owners of a waterside pub in Cornwall have acquired Hook on the Rock, a seafood restaurant at Swanpool Beach in Falmouth, for an undisclosed amount. Tamara Costin and William Speed will collaborate closely with Hooked’s head chef Jack Frame and general manager Katie Hemmings.
