JD Wetherspoon issues third profit warning this year as costs climb

The boss of JD Wetherspoon has said the pub chain could miss profit expectations because of rising costs, in the latest sign the UK hospitality industry is buckling under the pressure of higher energy, food, labour and tax bills. The company’s chair, Tim Martin, told investors on Wednesday: “As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs.” It is the third profit warning this year from the company, which operates about 800 pubs …