High labor costs eat into JD Wetherspoon's profit

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High labor costs eat into JD Wetherspoon's profit
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British pubs group JD Wetherspoon posted an 18.9 percent fall in first-half pretax profit on Friday.

British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs.

The owner and operator of more than 900 pubs in UK and Ireland said like-for-like sales rose 6.3 percent in the 26 weeks to January 27. "It's not leaving the EU, it's staying in the customs union indefinitely, and still subject to European rules," he said."Parliament has said it will implement the decision of the people — it's reluctant to do so because most of the parliamentarians are actually Remainers, but they have to do what they're told by the people in the end."

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