Enterprise Inns cheered by by trading performance

PUBCO Enterprise Inns has reported a near 2% increase in the trading performance of its leased and tenanted businesses.

The Solihull-based group said that in the 44 weeks to July 30, 2016 it was encouraged by a 1.9% increase in like-for-like net income.

In a trading update today, it said that all aspects of its strategic plan remained on track.

It said the trading performance and expansion of its managed house operations was progressing well and it expected to have more than 100 managed houses operational by September 30 this year.

In addition, it continues to grow its portfolio of commercial properties and it expects to have in the region of 300 such properties by the financial year-end.

Simon Townsend, Enterprise Inns CEO, said: “We are pleased to have maintained our trading momentum through the second half of the year to date.

“The consequences of Brexit may be far-reaching but to date we have seen no discernible impact on consumer spending and no consequential impact on our trading performance.

“Whilst mindful of the potential for some economic uncertainty in the months ahead, we are confident in our strategy and the actions we are taking to grow value for shareholders, and we remain on track to deliver our financial and strategic expectations for the year.”

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