English pub group JD Wetherspoon reported an adjusted pre-tax profit of £41.2m for the six months ending January 26, up 58.2pc from the previous year.
The surge in profits is attributed to sustained demand for food and drinks, particularly among younger consumers with rising disposable incomes.
Rising labour costs and economic pressures from the Westminster government’s October budget have raised concerns about future product pricing and potential job cuts.
The company employs about 42,000 workers and anticipates an annual cost increase of approximately £60m due to wage hikes and national security contributions.
Consumer morale has improved for two consecutive months, indicating a growing optimism about the economic outlook, despite concerns regarding personal finances.
Wetherspoon Chairman Tim Martin shared: “The company currently anticipates a reasonable outcome for the financial year, subject to our future sales performance.”
