Enterprise Inns

Telephone:

0121 733 7700

Activities:

Enterprise Inns has expanded at a rapid pace since its creation in 1991 and quickly became the UK’s largest pub operator  until early 2006 when its closest rival, Punch Taverns, took the lead following the re-acquistion of the Spirit Group.

Enterprise Inn's estate is composed of unbranded tenanted and leased properties.

Chief Executive:

Ted Tuppen

Key People:

Chief financial officer: David George
Chief operating officer: Simon Townsend
Non-executive chairman: Hubert Reid

Commentary:

Enterprise Inns has grown at a meteoric rate since its creation in 1991 from a core of 372 Bass pubs. thanks to a string of canny acquisitions that showed marked peaks in 1999, 2002 and 2004. The outright purchase of the Unique Pub Company in 2004 nearly doubled its portfolio to more than 9,000 venues before subsequent disposals.

The group’s expansion has also been achieved profitably. Between 2000 and 2004, when turnover grew from £172m to £713m, Enterprise boosted its pre-tax profits from £44.1m to £213m (with a slight blip in 2001) and its market capitalisation from £277m to £1.99b.

 

Strategy:

"We are working on refinancing our existing balance sheet, where current market parameters suggest that we could raise some £750 million of additional debt. We expect this refinancing process to be completed by the end of the calendar year and to be structured in a way that would not adversely impact our ability to generate shareholder value through the implementation of any other corporate structures that might become attractive in the future."

Source: interim results statement, 15 May 2007

Operating Data:

Number of pubs: 7,713 in March 2007

Financial Snapshot:

Full year
Turnover:  £970m (2005: £952m)
Pre-tax profit: £415m (2005: £275m)

Half year

Turnover: £453m  (2006: £473m)
Pre-tax profit: £183m (2006: £176m)
 
Financial year end: 30 September 2006
Half-year end: 31 March 2007

Address:

Cranmore Avenue
Shirley
Solihull,

UK