Enterprise Inns reports positive Q3 performance

11 August 2016 by
Enterprise Inns reports positive Q3 performance

Pub giant Enterprise Inns has reported a positive trading performance update in the third quarter of 2016, with all aspects of its strategic plan apparently "on track".

Like-for-like net income in its leased and tenanted business was up 1.9% in the 44 weeks to 30 July 2016 and Enterprise reported that it expects to have in excess of 100 managed houses operational by 30 September 2016.

The company is also continuing to grow its portfolio of quality commercial properties and expects to have in the region of 300 such properties by the end of the financial year.

Simon Townsend, chief executive officer of Enterprise Inns, 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."

He added: "While 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."

Enterprise Inns record flat pre-tax profit of £57m >>

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