JD Wetherspoon saw its share price drop by 10 per cent after a sobering financial update for the six months to the end of January 25th, 2026.

Higher costs are being blamed for profits coming in below current market expectations, with shares closing at 557p.

Tim Martin, chairman of JD Wetherspoon plc, said: “As previously indicated, increases in national insurance and labour rates will result in cost increases of approximately £60m per annum, and non-commodity energy costs will add £7m.

“The ‘Extended Producer Responsibility’ tax, a levy on packaging, will cost £2.4m in the current year, an increase of £1.6m.

“These cost increases will undoubtedly add to underlying inflation in the UK economy, although Wetherspoon, as always, will endeavour to keep price increases to a minimum.

“There is clearly considerable pressure on consumer finances, combined with higher taxes, wages and energy costs for the hospitality industry.

“This may result in profits that are slightly below current market expectations.”

• Shawbrook Group was one of the other biggest losers  on Friday as its share price dropped more than 8 per cent.