Wetherspoon plans rapid expansion
Pub group JD Wetherspoon has announced plans to expand its chain of pubs rapidly, following an increase in pre-tax profits to £17.6m for the year ending 31 July 1997, up 34% on the previous year.
In the past year the company has opened 48 new pubs at an average cost of £1.1m per pub.
Chairman Tim Martin confirmed that a further £100m funding had been agreed to finance future growth and 160 sites were "in the pipeline" but dismissed reports that new openings in Paris and Ireland were imminent.