Wetherspoons warns that profits to be hit by rising costs

Wetherspoons has warned that higher labour costs, taxes and energy bills will drag on the group’s profits (Victoria Jones/PA) - (PA Wire)

Pub giant Wetherspoons has warned that higher labour costs, taxes and energy bills will drag on the group’s profits and add to inflation in the UK economy.

Tim Martin, chairman of the 794-strong chain, said these cost increases “may result in profits that are slightly below” market expectations.