Wetherspoon’s like-for-like (LFL) sales increased by 3.7% year-on-year in the 14 weeks to 2 November, after increasing by 4.5% in the last financial year.

In its first quarter, the pub chain’s bar sales increased by 5.7%, while its food and slot machines sales rose by 0.9% and 8.9% respectively.

Wetherspoon’s stated that it had outperformed its tracker for just over two years, with industry sales increasing by 0.2% in September, compared to Wetherspoon’s sales growth of 3.4 %.

In the year-to-date, sales at the group increased by 4.2%, while it opened four new pubs.

The company is planning on opening 15 pubs in the current financial year.

Chair at Wetherspoon’s, Tim Martin took aim at the Government, stating that if "energy prices go up, almost everyone is poorer". He added that increased labour costs would continue to impact pint prices.

He stated: "As investment bank Morgan Stanley pointed out in recent research, pubs have lost 50% of their beer volumes to supermarkets since the year 2000 - price is surely the main culprit.

"It is important to emphasise the above points since it's not clear that they are fully appreciated by legislators, economists or the public.

"The company is pleased with the continued sales momentum but is mindful of the Chancellor's Budget statement later this month and, as a result, is slightly more cautious in its outlook for the remainder of the year."

Despite these results, head of equity research at Hargreaves Lansdown, Derren Nathan, added that investors should take some comfort ahead from these figures ahead of economic uncertainty.

He stated: "With both personal and business taxes potentially on the rise in this month’s Budget a more cautious approach to the outlook is understandable. But Wetherspoon’s is better placed to weather potential changes than most and it’s confident enough to open 15 operated and 15 franchised pubs this year.

"The Budget could well see Martin’s long list of complaints against the establishment grow. Clearly, rising energy costs are a particular pain point with comparisons to the French nuclear network being used to point out challenges to our increasing energy demands.

"The usual moan about supermarkets preferential treatment when it comes to sales tax on beer was also there, as was a comparison to the UK ‘ludicrous nine-year rule’ and the tenures of chairmen at US mega caps, none of whom comply with this timeline."

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