JD Wetherspoon reported a rise in full year pre-tax profit on Friday, defying intensifying Brexit uncertainty.
Speaking to CNBC's "Squawk Box Europe" on Friday, JD Wetherspoon's Tim Martin said pubs were having to adapt to a rise of coffee shops and restaurants in the last three decades.
"Millennials are drinking less. So, our number one draft product is Pepsi cola — which is almost sacrilege. And, we sell more coffee and tea combined, which isn't a draft product, than Pepsi," Martin said. The new JD Wetherspoon pub the Hope and Champion which has opened at the M40 Services at Beaconsfield, Buckinghamshire.
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