Wetherspoons share price dipped 0.5% to 822p following the release of a £21.3 million pre-tax loss for its half-year 2021 financial results.
Despite the loss in 2021, the company says they are confident of a stronger future, if there are no more lockdowns.
The company reported a revenue of £807.4 million against £933 million in 2020, as well as an 11.8% decrease in like-for-like sales.
Wetherspoons reported an operating profit of £0.5 million and an earnings per share loss of 16p.
Like-for-like bar sales fell 12.7%, food sales decreased 11.1% and slot/fruit machine sales dropped 9.8%.
However, Wetherspoons reported a hotel room sales rise of 6.6%.
The bar chain blamed falling profits on Covid-19 restrictions and increased labour costs as a result of staff absences.
“Following a traumatic two years for many businesses and people, the ending of Covid restrictions has brought a return to more normal trading patterns in recent weeks,” said Wetherspoons chairman Tim Martin.
“Contrary to some reports, the company has a full complement of staff and is fully stocked, with some minor exceptions.”
“Draconian restrictions, which amount to a lockdown-by-stealth, are, of course, kryptonite for hospitality, travel, leisure and many other businesses.”
“The company is confident of a strong future if restrictions are avoided.”
“The readiness of the leaders of all the UK’s main political parties to resort to lockdowns, and extreme restrictions, which were not contemplated in the UK’s 2019 plans for pandemics, is the main threat to the future of the hospitality industry, but also to the economy.”
Wetherspoons have enjoyed improving trading conditions this year with the three-week period to 13th March 2022 seeing sales improve to only be 2.6% lower than in the same period in 2019.