JD Wetherspoon says the cost of maintaining its sites has plummeted dramatically since the latest closures were enforced.
The company was spending £1.6m a week – more than £6m a month – on repair and maintenance work in its sites before Covid, but that has now fallen to a weekly run-rate of £250,000.
Expenditure on utilities, head office, the distribution centre and IT, meanwhile, has been reduced from £4m pre-Covid to £1.1 million during the closure period.
Cost containment measures have been a key focus for the 900-site pub group in a bid to reduce outgoings while it is not allowed to trade.
More than 99% of its 37,000-strong workforce have been furloughed on 80% pay, while nearly 400 employees at head office and airport sites have been made redundant.
During the current closure period, the chairman and non-executives’ pay has been reduced by 50%, and the CEO’s by 25%.
Meanwhile, Wetherspoon said that before reopening in July and August last year, it spent more than £13m implementing measures designed to keep its pubs Covid-secure.
Comprehensive social distancing and hygiene practices were introduced, including reduced capacity levels, the spacing out of tables, the installation of a number of floor screens between tables, the addition of till-surround screens to the bar and extensive signage.