Wetherspoon boss calls proposal to get rid of pints 'slightly daft'

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Founder and Chairman of JD Wetherspoon, Tim Martin, speaks at a press conference in the Hamilton Hall pub, in central London, following the publication of the pub chain's full year results. (Photo by Dominic Lipinski/PA Images via Getty Images)
Founder and Chairman of JD Wetherspoon Tim Martin has called a proposal to get rid of pints in pubs 'slightly daft'. (Dominic Lipinski - PA Images via Getty Images)

Tim Martin, chairman of JD Wetherspoon (JDW.L), has hit out at a proposal from a recent study by Cambridge University to remove pints in pubs, calling it "slightly daft".

The study, published in September, showed that reducing the serving size for beer, lager and cider cut the volume of those drinks consumed in pubs, bars and restaurants.

Cambridge researchers found that swapping pints for glasses two-thirds the size — also known as a "schooner" — reduced sales by nearly 10%.

Based on these findings researchers said this "intervention merits consideration for inclusion in alcohol control policies," to benefit public health.

Martin dismissed the proposals, calling them "slightly daft" in Wetherspoons' annual results, released on Friday.

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"Common sense indicates that reducing glass sizes is unlikely, due to human nature, to reduce alcohol consumption in pubs, and would also have no effect whatsoever on drinks bought in supermarkets, unless container sizes in supermarkets were also, unrealistically, reduced," he said.

He claimed that in Australia, schooners were already in use "without any noticeable reduction in consumption".

Martin also hit out at the suggestion of changes to pub and hospitality licensing hours.

Andrew Gwynne, public health and prevention minister, had reportedly recently suggested "tightening up on some of the hours of operation".

However, prime minister Keir Starmer shut down the rumours in an interview on LBC, calling the claims "nonsense".

Starmer said: "This is not government policy. We are not going to do it."

In Wetherspoons' results, Martin said: "The effect of reducing pub opening times would certainly further reduce on-trade consumption, but that reduction is likely to be replaced by “off-trade” consumption at home and in other 'unregulated' environments."

Martin also said the company was "concerned about the possibility of further lockdowns" in the wake of the pandemic.

He said that Wetherspoons' recovery from the pandemic continued in its 2024 fiscal year, which ended on 28 July.

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Improved trading and better company financials, led the business to reintroduce a full-year dividend payment for the first time since before the pandemic, with a recommended payout of 12p per share.

Wetherspoons also reported that sales had hit £2bn ($2.6bn) this year, up nearly 6% on 2023. However, the company said profit before tax after "separately disclosed items", which included operating costs and property losses, was down 33% on the previous year to nearly £61m.

Martin reiterated the previously stated estimates that the company "company has potential for about 1,000 pubs in the UK", with 804 locations currently in the UK.

Recent openings include The Captain Flinders near Euston Station and The Lion and the Unicorn in Waterloo Station, both in London.

Wetherspoons' shares, which are listed on the FTSE 250 (^FTMC), were little changed by early afternoon on Friday.

Richard Hunter, head of markets at Interactive Investor, said: "The pandemic hangover is something from which Wetherspoons has not fully recovered, but there are nonetheless increasing signs of progress."

"The market consensus of the shares as a strong hold reflects some conviction in Wetherspoon’s ability to continue to fight its corner, while also adding some caution into a challenging mix," he added.

A spokesperson for Cambridge University had not responded to Yahoo Finance UK's request for comment at the time of writing.

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