JD Wetherspoon, the pub operator, has accused the Government of making “opportunistic tax grabs”.

The company, which recently began a 99p-a-pint promotion, said that while it had made a post-tax profit of £17.3 million in the half-year to January 25, it had generated £190 million for the Treasury's coffers.

The tax generated over the six-month period comprised £79 million in VAT, £53 million of excise duty, PAYE and national insurance of £30 million, property taxes of £18 million and corporation tax of £10 million.

Tim Martin, the group's chairman, said that the level of tax being levied on the trade was contributing to the closure of pubs in record numbers - according to recent figures 39 a week. He said that each of Wetherspoon's pubs generated average taxes of £530,000 but earned only £50,000 in after-tax profits. “The Government seems not to understand the economic impact of new taxes and legislation and continues to impose new burdens at a huge rate.”

He said that recent duty increases would cost the group another £15 million this year, while new rules on holiday entitlements for staff would add a further burden of £4 million. “Opportunistic tax grabs and employee legislation to curry favour with voters that businesses cannot afford will prove to be counter-productive for the Government,” Mr Martin said.

The warning came as Wetherspoon reported a 2 per cent rise in pre-tax profits before exceptional items to £30.8 million, from £30.2 million, helped by a return to like-for-like growth in bar sales.

The company said that it was enjoying strong sales of traditional ales and was benefiting from its decision to open all its pubs for breakfast. It said that it was selling more than 700,000 breakfasts and coffees a week - more than many coffee shop chains.

The group added 21 pubs during the half-year, most of them conversions of existing pubs, taking its total to 714. It allayed fears over its ability to refinance a $140 million (£100 million) US private placement, due for renewal in September, announcing a new £20 million facility from Abbey Santander.

Mr Martin commented: “This combination of bar, food and coffee sales helps to ensure that pubs are busy throughout much of the week, maximising profits as well as generating volume growth for our suppliers.”

Wetherspoon said that like-for-like sales had increased by 1.9 per cent, with total sales, including new pubs, increasing by 6.5 per cent to £468.7 million. The company said that it had been helped by a reduction in some costs, including energy and food.

“Although the pub industry as a whole is under great pressure from higher taxes and social legislation, as well as a difficult economy, as a result of our strong cashflow, reducing debt and the excellent work of our employees, I remain confident of the company's prospects,” Mr Martin said. As previously announced, there is no dividend.

John Hutson, chief executive, said: “With regard to the dividend, until we have got a bit more clarity on where we are going to be with our new bank facility, I think we will just be as flexible as possible, which would indicate not paying it.” He said that financing deals on offer with banks were for about three years, shorter than the traditional five to ten-year loan agreements, making it too early for it to approach a bank to renew its deal.

“If we do sort out a deal next year then we may resume the dividend a bit earlier because we know where we are with our finances,” Mr Hutson said.

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