JD Wetherspoon has released its fourth profit warning again in seven months.

The pub chain said rising costs could reduce profitability short of its 2026 targets.

Labour’s tax changes were also a major factor driving the margin squeeze.

The early three warnings came in February, April and May 2026.

The chain expects tighter margins to persist through the year.

Shareholders watch the developments.

The situation highlights cost pressures in the sector and raises uncertainty.

The chain aims to manage expenses through cost-cutting measures.

Management emphasised the need for prudent budgeting while seeking growth opportunities.

The warning issues a clear signal to investors.