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Enterprise Inns serves up results in line with last year

Tue, 15th Nov 2016 09:57

(ShareCast News) - Pub owner Enterprise Inns announced its results for the year to 30 September on Tuesday, with EBITDA before exceptional items of £292m, down slightly from £296m a year earlier, which was in line with expectations and reflecting the impact of planned disposals.The company's profit before tax and exceptional items was £122m, in line with the prior year, as interest savings from reduced debt offset reduction in EBITDA.Profit after tax was £71m, swinging from a £65m loss last year, which the board said was primarily due to lower exceptional refinancing costs and lower property charges arising from the annual estate valuation.Enterprise's estate valuation increased by 0.1%, compared to a 2.7% fall last year.Adjusted earnings per share were up to 19.6p, from 19.4p, and net debt was reduced to £2.2bn from £2.3bn."We are pleased to have delivered our financial objectives for the year, maintaining the growth momentum in our leased and tenanted business, while making significant progress in building our commercial property portfolio and managed operations and investments businesses," said CEO Simon Townsend."Our plan to transform the group to best serve our publicans and their communities whilst maximising returns from each of our assets remains on track."Townsend said whilst there is the potential for some economic uncertainty in the months ahead, trading in the first six weeks of the new financial year had been in line with expectations and the board was confident that the actions it was taking to execute its strategic plans were the most appropriate response to changes in the regulatory and economic environment."Our proactive management of debt refinancing and our returns-driven approach to allocating excess cash will deliver both near and long-term benefits to all our stakeholders."
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23 Jul 2015 16:48

Enterprise Inns' chairman buys new shares

(ShareCast News) - Enterprise Inns's chairman Robert Walker purchased new shares in the company one day after Numis upgraded the stock as it expects the new strategy to enhance the level and quality of earnings from 2017. Walker bought 160,000 shares at the British leased and tenanted pub company fo

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23 Jul 2015 16:09

DIRECTOR DEALINGS SUMMARY: Goldplat Chairman Buys After Profit Warning

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23 Jul 2015 08:48

DIRECTOR DEALINGS: Enterprise Inns Chairman Buys 160,000 Shares

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15 Jul 2015 13:59

UPDATE 1-Nigeria's Seven Energy secures $495 mln to boost gas supply

(Adds name of lenders, details, background) LAGOS, July 15 (Reuters) - Oil and gas firm Seven Energy has secured a $495 million loan from a consortium of Nigerian and international lenders to help fund its spending to supply gas to the domestic market, an adviser on the deal said on Wednesd

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22 Jun 2015 09:26

Numis ups Enterprise Inns to 'buy'; says new strategy will enhance earnings

Numis upgraded Enterprise Inns to 'buy' from 'add' and raised the price target to 160p from 150p, saying it expects the new strategy to enhance the level and quality of earnings from 2017. "Enterprise Inns' new strategy should have a substantial long-term impact on its earnings composition, even if

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22 Jun 2015 08:32

BROKER RATINGS SUMMARY: Deutsche Bank Raises Carnival, Bunzl To Buy

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13 May 2015 13:16

FTSE 250 movers: Mitie hit by minimum wage dispute, Enterprise Inns higher on expansion plans

UK stocks rebounded on Wednesday, driven by the Bank of England pushing back rate-hike predictions and a dip in unemployment. Sector-wise, property, energy and engineering stocks extended gains, while travel and utilities dipped. As of 03:30, the FTSE 250 was trading 193 points, or 1.09% higher at 1

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12 May 2015 16:33

London close: Stocks finish off lows but FTSE still drops 1.4%

UK stocks suffered steep declines on Tuesday as volatility in sovereign debt markets and ongoing fears about Greece sent shares 1.4% lower, with Easyjet leading the fallers on a cautious outlook. The FTSE 100 finished the session down 96.05 points, or 1.37%, at 6,933.80, though the index did finish

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12 May 2015 12:28

LONDON MIDDAY BRIEFING: EasyJet Outlook Hits Turbulence

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12 May 2015 12:07

BUZZ-Greene King: pub co a good play on UK consumer theme-JPM

** Greene King (GK) outperforms sharply lower FTSE 250 as JPMorgan upgrades to "overweight" vs "neutral" ** Says UK pub sector, for all its challenges, offers good exposure to UK consumer environment ** JPM flags major pub cos have generally stable & predictable cash flows with attrac

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12 May 2015 11:26

London midday: Bond sell-off and Greek uncertainty hammer stock markets

UK stocks dropped sharply on Tuesday as a sell-off on sovereign debt markets and ongoing fears about Greece's finances hammered sentiment. The FTSE 100 was down 1.63% at 6,915.17 by midday, with Easyjet leading the decline with a 10% share-price fall following its interim results. The Footsie hit a

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12 May 2015 10:36

WINNERS & LOSERS: easyJet Slides As Analysts Set To Cut Forecasts

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12 May 2015 10:14

TOP NEWS: UK Industrial Production Rises More Than Expected In March

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12 May 2015 09:05

London open: Greek concerns hit stocks, Easyjet sinks

UK stocks plunged into the red on Tuesday morning on concerns about Greece and bond-market volatility, while blue chip budget airline Easyjet disappointed investors with its full-year outlook. The FTSE 100 was trading 1.04% lower at 6,956.41 early on ahead of data which is forecast to show that UK i

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12 May 2015 08:50

REFILE-UPDATE 1-Enterprise Inns unveils overhaul in response to new tenant powers

(Deletes word "that", paragraph 2) * Managed pubs to grow to 850 from 16 * Commercial property arm to grow to 1,000 properties * Changes in response to new rent options for tenants * Shares up 0.8 pct By Neil Maidment LONDON, May 12 (Reuters) - British pub land

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