Enterprise Inns profits soar 60% on pub acquisitions
Wednesday 24 November 1999
Ted Tuppen, chief executive, said the group had added 901 pubs to its portfolio in the past financial year and that he was looking forward to further growth. After buying Mayfair Taverns in 1998, the company took over Century Inns in March and acquired another 217 pubs from Bass in June. The group's leased and tenanted pub estate now contains 2,430 outlets.
Enterprise is one of four fast-growing independent UK pub groups, along with Punch Taverns, Pubmaster and Nomura, which have benefited by the large British brewers being forced by government rules to sell off some of their pubs. Analysts say Enterprise and its rivals could go head to head in the race to buy some 600 pubs which Scottish & Newcastle, the UK's biggest brewer, will sell to overcome the Department of Trade and Industry's concerns over its acquisition of Greenalls' pubs businesses.
Enterprise posted pre-tax profit before exceptionals of pounds 36.1m for the year to 30 September on sales up 53 per cent at pounds 123.6m. It announced a final dividend of 6.3p a share, representing a 12 per cent rise in the total annual payout, which reached 9.45p.
- 1 Game of Thrones season 6: Jon Snow theorists believe Ned Stark's son may have a twin sister
- 2 Artist takes LSD, draws herself over different stages of the 9-hour trip to show its effects
- 3 Miley Cyrus address Robin Thicke VMA controversy: ‘He wanted me as naked as possible, but I got the heat because I’m a woman’
- 4 A pint of water every day is the key to losing weight, scientists say
- 5 How the NHS is being dismantled in 10 easy steps
Miley Cyrus address Robin Thicke VMA controversy: ‘He wanted me as naked as possible, but I got the heat because I’m a woman’
Most expensive city to live in for expatriates: Luanda, Angola takes number one spot with Hong Kong and Zurich in top three
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal get peerages
Moody neurotics are more likely to be creative geniuses, study says
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Dresden riots: Protesters in Germany attack refugee buses shouting 'foreigners out'
France train shooting: US soldiers speak of the moment they stopped gunman and 'beat him until he was unconscious'
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...