JD Wetherspoon's controversial 99p pint has helped sales rise 6.4%

While hard up drinkers may find a little relief, health groups criticised the pub chains cut price booze promo as irresponsible.

The 'indefinite' 99p pint of Green King IPA and £1 bottle of San Miguel hit dozens of the no frills bar chains outlets across the city in a bid to weather the economic downturn.

Like-for-like sales in the last two weeks of trading were showing increases of 6.4%, compared with a rise of 2.6% across the first 12 weeks of its second quarter financial period.

'Helping people'

Wetherspoon's chief executive John Hutson said the company was helping people, arguing:

"We believe that our new food and drink prices will allow people to enjoy a visit to a Wetherspoon pub without it costing them too much."

It has 713 pubs nationwide. The chain has bucked the downward trend in the pub trade, it was recently revealed that up to 36 boozers a week were closing in the economic slump.

Dividend cancelled

Not everyone was raising a glass to the upward spike in sales - shareholders were angry to learn there will be no dividend payout this year.

The company has £95m debt facility up for renewal in September.

It said:

"In normal conditions, a refinancing of the private placement on attractive terms could be relied upon, given our financial performance.

"However, in the present economic climate, a refinancing cannot be taken for granted and the board therefore feels that the measures described are prudent in the circumstances."