Enterprise Inns reports strong trading

The New Inn, Leamington; owned by EI

SOLIHULL pubco Enterprise Inns says it is trading strongly and has reported like-for-like net income growth.

In a trading update ahead of its AGM today, the firm also said the implementation of its strategic plan is on track.

Covering the 19 week period up to February 6, the statement said like-for-like net income in the leased and tenanted estate has grown by 1.6%.

It said this performance has been achieved as a result of stabilising rental income, growing income from beer sales and is driven by the provision of operational support and commercial benefits to its publicans. 
 
Enterprise Inns said the trading performance and expansion of its managed house operations is progressing in line with its plans and it expects to have in excess of 100 managed houses operational by 30 September 2016.

It also wants to grow its portfolio of “quality commercial properties” and expects to have more than 300 such properties by the financial year end.
 
Simon Townsend, chief executive officer, said: “We are pleased to have made a strong start to the year, delivering continued growth of our leased and tenanted business, and this provides us with confidence that we are on track to deliver our expectations for the full financial year.

“Furthermore, we have made good progress executing our operational strategy while recruiting and developing the organisational capabilities necessary to achieve our strategic objectives.”
 

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