JD Wetherspoon expects 21% profit drop for UK pub chain after rising costs and weak sales

JD Wetherspoon, a UK pub chain, is set to report a significant drop in annual profits. The company has faced rising costs in food, labour, energy, and business rates, as well as disappointing sales growth. In July, it warned that profits would miss market expectations. Analysts predict pre-tax profits will fall by 21% to £64.6 million for the year ending July 26. The company also faces £60 million in extra costs from wage increases and national insurance contributions. Results are due on Friday, and investors are braced for another challenging year.