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Enterprise Inns on track for full year, changes name to Ei Group

Thu, 09th Feb 2017 08:03

(ShareCast News) - Enterprise Inns said on Thursday that it is on track to deliver its expectations for the full year as it announced a change of name to Ei Group.In a trading update for the 18 weeks to 4 February, the company reported like-for-like net income growth of 1.6% in the Ei Publican Partnerships as a result of continued stabilisation of rental income and growing income from beer sales, driven by targeted capital investment, operational support and commercial benefits provided to its publicans. The company said the execution of its strategic plan for the business is progressing well and it expects to be operating around 400 commercial properties by the financial year end. Of these, 181 traded throughout this reporting period and the prior period, delivering like-for-like net income growth of 2.1%.Enterprise Inn said it is changing its name to Ei Group, to reflect the transformation of the company's business from a single, predominantly leased and tenanted operation, to a portfolio of businesses comprising a variety of operating models and trading styles designed to optimise the value derived from the asset base. The name change is expected to be effective on Friday, subject to approval by the company's shareholders.At 0817 GMT, the shares were down 1.3% to 137.75p.

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20 Nov 2014 17:19

Thursday tips round-up: Enterprise Inns, Punch Taverns, ICAP

Change is good, but not quite what UK MPs have in mind. Their vote in favour of ending the so-called 'beer-tie' is a great idea. In effect, it will allow large pub operators to purchase their beer from wherever they like, instead of being forced to buy it from the likes of Enterprise Inns or Punch T

19 Nov 2014 14:42

UK pub firms hit by move to curb power over tenants

* Shares in pub owners fall after parliament vote * Move to give tenants more freedom on beer buying By Neil Maidment and William James LONDON, Nov 19 (Reuters) - British pub groups suffered on Wednesday after lawmakers backed a move to hand publicans more control over where the

19 Nov 2014 12:30

Broker tips: Pub companies, IMI, National Grid

Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. "If this passes through the House of Lords and becomes law, this coul

19 Nov 2014 10:56

Beer tie vote creates 'significant uncertainty' for pubcos, says Barclays

Analysts at Barclays have said a de-rating of UK pub stocks is "very likely" after MPs voted to scrap the 'beer tie', meaning that tenants are now allowed an independent rent review and will be able to buy beer on the open market. The government was defeated in a Commons vote on Tuesday with MPs vot

19 Nov 2014 09:54

BUZZ-UK pub operators: slump after vote for flexible "beer-tie" deals

** Listed British pub operators saw as much as 330 mln pounds ($516.22 mln) wiped off their market value after lawmakers unexpectedly voted to give people who lease pubs from big companies more freedom about where they buy their beer. ** Enterprise Inns falls as much as 17 pct, the worst of

19 Nov 2014 07:13

Pub firms say beer tie vote may spark closures and job losses

It has been hailed as a historic vote that could secure the future of the British pub, but Parliament's decision to scrap the restrictive 'beer tie', which links pub landlords' rent and supplies to their parent pub companies, might have "serious unintended consequences" on the industry, according to

18 Nov 2014 16:47

British lawmakers back increased rights for pub tenants

LONDON, Nov 18 (Reuters) - British lawmakers on Tuesday voted to give publicans more power in tie-ups with big pub group landlords by adding a so called 'market rent only' option into new government reforms. Almost half of the UK's 50,000 pubs are run by tenants under "beer-tie" agreements,

18 Nov 2014 09:01

Enterprise Inns cautious on "fragile" UK recovery amid flat FY profits

Pub group Enterprise Inns posted flat annual profits and said it was staying cautious in the face of a "fragile" UK economic recovery. Pub group Enterprise Inns posted flat annual profits and said it was staying cautious in the face of a "fragile" UK economic recovery. Enterprise, which runs both l

14 Nov 2014 06:16

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