Acquisitions boost Enterprise

30 November 2001 by
Acquisitions boost Enterprise

Pub company Enterprise Inns reported a 42.6% increase in turnover to £245.4m in the 12 months to 30 September. It also recorded an increase of 12% in its average operating profit per pub, and 9% in average income.

Pre-tax profit dropped by 7.7% to £40.7m from £44.1m for the same period last year. Taking exceptional items into account, profit increased by 25% to £62.6m.

Chairman Hubert Reid said the large number of pubs bought in the last year had prompted the strong growth.

In June Enterprise bought 439 managed pubs from Morgan Grenfell Private Equity for £266.7m and in July bought a further 431 managed pubs from Scottish & Newcastle for £269.5m.

Enterprise Inns now operates 3,499 leased and tenanted pubs valued at £1.3b.

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Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


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