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Enterprise Inns trading in line after lifting H1 profit

Tue, 17th May 2016 16:18

(ShareCast News) - Enterprise Inns said second-half trading is in line with its expectations, despite being hurt by the timing of the Easter weekend and after improving its first-half pre-tax profit to £40m, from £10m.Its revenues improved marginally to £305m, from £302m.Enterprise Publican Partnerships' leased and tenanted like-for-like (LFL) net income rose 1.8% across the whole estate, from 0.6% a year earlier. Enterprise Commercial Properties' LFL net income gained 5.2%, from 5.0%."We remain confident that we will deliver positive like-for-like net income growth in our leased, tenanted and commercial estates for the full year," Enterprise said.The pub company had 75 managed pubs trading at 17 May, with 21 under its Bermondsey operation, 50 under its Craft Union operation and four within Enterprise Managed Investments"We have now partnered with three managed experts and have a strong pipeline of interest from other exceptional operators," Enterprise said.Looking ahead, it forecast trade to benefit from the UEFA Euro 2016 football championship in June and July, but it anticipated a period of disruption to follow the introduction of the Pubs Code."We are continuing to make good progress," said CEO Simon Townsend in a statement."Our leased and tenanted business is maintaining its growth momentum while the rapid expansion of our managed operations and commercial property portfolio is on track and delivering results in line with our expectations," he said."We are confident that the execution of our strategy is demonstrating a clear path to maximising long term shareholder value and our returns driven approach to allocating excess cash will deliver near 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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