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progress, long may it continue !
of buys going through today coupled with directors buying !!! I'm in !
Investors savour prospect of tasty Enterprise payout http://www.thetimes.co.uk/tto/business/industries/leisure/article4616535.ece
LEX Enterprise Inns: a few more rounds to go The task of making pubs less pub-like is complicated by last year’s sudden change in law http://www.ft.com/cms/s/3/adbcdac0-8d49-11e5-a549-b89a1dfede9b.html
Enterprise says plan to run more pubs is on track Financial Times http://www.ft.com/intl/cms/s/0/b8eb163e-8d06-11e5-8be4-3506bf20cc2b.html#axzz3rSNV4HEt
Enterprise Inns shares rise despite flat profits Pub owner on track with new strategy to expand its managed estate http://www.theguardian.com/business/marketforceslive/2015/nov/17/enterprise-inns-shares-rise-despite-flat-profits
Investors toast Enterprise Inns http://www.sharesmagazine.co.uk/news/investors-toast-enterprise-inns#.Vks3InbhDb0 Tenanted pub group Enterprise Inns (ETI) is pushing forward with its plans to mitigate the impact of the Market Rent Option (MRO) by expanding its managed business and commercial property portfolio. The £482.6 million cap says the execution of its strategic plan is on track, sending the shares up 5.9% to 100.6p.
Pub companies: managing decline: The U.K.’s famous pubs are not worth much these days — as pubs, anyway. So they are being converted into shops, flats, restaurants, veterinary practices and the odd synagogue at the rate of about 27 a week. Against this sober backdrop, and with net debt that is more than three times its market capitalisation, pub Owner Enterprise Inns is working out how to improve profitability. There is room for improvement at Enterprise. Compare Mitchells & Butlers, the leading operator of managed pubs. On average, each of its boozers, which tend to be large and serve lots of food, makes much more profit than Enterprise’s, and sales are growing a bit faster, too — 1.7% in the first half against 0.6%. So far so good. Execution is the risk: does Enterprise have the management heft to go from 16 directly run pubs to more than 800? It is also uncertain how quickly tenants will switch off the tie, forsaking the subsidised rent that goes with it. This amounts to swapping a variable cost (overpriced beer) for a fixed one (market rate rent). Some tenants may not want that risk. But this is a plan, at least, and a bolder one than many expected. After a lengthy period of no dividends and a flat share price, it deserves support.
Pub philosophy: The Pub Landlord, aka comedian Al Murray, failed to win the seat of Thanet South in last week’s election when he ran satirically against Ukip’s Nigel Farage. In contrast, tenant landlords are winners from legislation that will free many of them from the obligation to buy pricey beer from pub companies that own their premises. That creates a problem for Enterprise Inns, which built an estate of more than 5,000 boozers through debt-fuelled acquisitions before the financial crisis. But the group, which announced a new strategy on Tuesday, will find it harder to recoup economies of scale on its own bulk purchasing of drink. The damage would depend on how many landlords choose to sever the beer tie after the new law is introduced next year. Enterprise said it expected up to 1,000 pubs to go rent-only by September 2020, sitting within a real estate investment trust it is setting up. Enterprise hopes to manage another 750-850 pubs directly. A sum on the back of a beer mat suggests the group might be left with about 2,400 traditional tenanted pubs in an estate of 4,200, having sold about 1,000. To succeed, Enterprise will have to build a great managed pubs business, virtually from a standing start, and offer tenants a winning franchise. The plan is sensible. But Enterprise remains burdened with net debts of £2.4 billion.
Enterprise to reshape pub business after loosening of beer tie: Enterprise Inns has become the first big pub group to announce a radical change to the shape of its business after a law was passed giving publicans the right to pay market prices for beer. It plans to sell 1000 pubs in the next 5 years.
Chart again sorry, https://pbs.twimg.com/media/B1jNKNnIEAAUO7S.jpg"
ETI ENTERPRISE INNS, tech breakout occured. Resistance at 135p 143p and 152p. 02 Oct Deutsche Bank Buy 205.00p TARGT <img src="https://pbs.twimg.com/media/B1jNKNnIEAAUO7S.jpg"/>
Was in this years ago,got in again earlier,doing quite well here ?
That'lll do me Ttfn
Enterprise Inns: Barclays upgrades to overweight.
08:30 2.65% in profit, nice little in and out trade
Enterprise Inns: Numis downgrades to add with a target price of 110p.
Big drop today against poor returns in recent weeks but still solid and easy pickings for making a quick few quid if you like to get in and out quickly tomorrow imo, easy 2pc to be made here tomorrow (we shall see)
Enterprise Inns: Panmure Gordon raises target price from 87p to 123p and reiterates a buy recommendation.
Enterprise Inns: Panmure Gordon increases target price from 87p to 123p maintaining a buy rating.
breakout??.
Deutsche Bank buy over 3%.... http://www.investegate.co.uk/enterprise-inns-plc-(eti)/rns/holding(s)-in-company/201212201019500118U/
19 Dec Enterprise Inns PLC ETI Deutsche Bank Buy 0.00 97.25 135.00 135.00 Retains
ETI A bit of a mouthfull, but is code for OK things are looking up. TEXT-S&P revises Enterprise Inns outlook to stable; affirms 'B' Rtg 13 Dec 2012 - 12:41 (The following statement was released by the rating agency) Dec 13 - Overview -- The operating performance of U.K. pub operator Enterprise Inns PLC <ETI.L> (ETI) is stabilizing, while the company continues to reduce debt through asset disposals. -- In addition, in 2012, ETI reduced liquidity risks by refinancing part of its bank facility that expires in 2013 and by prepaying and cancelling bonds at its Unique Pub Finance Co. PLC [ETIUB.UL] (Unique) securitization. ETI is now more than one year ahead of the Unique amortization schedule. -- We are therefore revising our outlook on ETI to stable from negative and affirming our 'B' long-term corporate credit rating on ETI and our 'BB-' issue rating on the senior secured bonds. -- The stable outlook reflects ETI's improved liquidity position, our forecast of a slowdown in the decline of its revenues and earnings, and its ability to generate positive free operating cash flow. Rating Action On Dec. 13, 2012, Standard & Poor's Ratings Services revised its outlook on U.K. tenanted public house (pub) operator Enterprise Inns PLC (ETI, the company) to stable from negative. At the same time, we affirmed our 'B' long-term corporate credit rating on the company. At the same time, we affirmed our 'BB-' issue ratings on ETI's five senior secured bonds. The recovery rating on these bonds is unchanged at '1', reflecting our expectation of very high (90%-100%) recovery for senior secured lenders in the event of a payment default. Rationale The outlook revision reflects ETI's focus on debt reduction through asset disposals, its stabilizing operating performance, and a reduction in liquidity risks owing to the refinancing of part of its bank facility. In addition, ETI has significantly reduced the risk of a dividend lock-up in its Unique Pub Finance Co. PLC (Unique) securitization. In our base-case scenario for the financial year ending Sept. 30, 2013 (financial 2013), we forecast a 5% fall in both revenues and Standard & Poor's-adjusted EBITDA to about GBP660 million and GBP335 million, respectively. The forecast falls are primarily the result of ETI's disposal of an estimated 300 pubs in financial 2013. The operating environment for tenanted pub operators is likely to remain challenging, in our view, and we forecast low single-digit negative like-for-like sales across the whole ETI estate. However, we anticipate positive like-for-like sales growth for approximately 75% of ETI's pubs where the tenant has been in place for more than one year. This indicates to us stabilization in operating performance. Beyond 2013, we expect the pace of the ongoing decline in ETI's revenues and EBITDA over the past few years to slow, as the rationalization of the estate comes to a close. The smaller estate of about 5,200 pubs in 2015, down from 7,800