Enterprise Inns finds poor weather, Jubilee and Euro 2012 ‘interesting and challenging'

09 August 2012 by
Enterprise Inns finds poor weather, Jubilee and Euro 2012 ‘interesting and challenging'

Enterprise Inns has found the 18 weeks to 4 August "interesting and challenging", with any help from the Jubilee celebrations and Euro 2012 being outweighed by the poor weather.

Like-for-like income in Enterprise Inns' whole pub estate fell 1.2% in the 44 weeks to 4 August, an improvement on the 5.1% drop during the same period last year.

But Enterprise said that trends in its substantive estate, which is made up of 5,437 pubs and accounts for 94% of revenue, were improving, with like-for-like income per pub up by 1.6% over the 44-week period. The substantive lease agreement is a longer term lease of 10, 15 or 20 years.

Meanwhile Enterprise said that the Olympics was not "materially impacting" trading performance, although it hoped that the positive sentiment generated by British success would encourage customers to celebrate in their local community pubs.

The company added that it has made £148m through disposals, and expected it to be £200m by the end of the year. It made £26m from selling 121 unsustainable pubs, while a sale and leaseback of 17 pubs in December last year made a further £24m. And it has also sold 82 exceptional properties for £98m.

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

Tabletalk
Tabletalk
If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs

Blogs on Catererandhotelkeeper.com ](http://www.catererandhotelkeeper.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[E-newsletters](http://www.catererandhotelkeeper.com/email-newsletters.htm)[ For the latest hospitality news, sign up for our E-newsletters
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group 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.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking