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 Replica Back to the Future Hoverboard released
- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
- 4 A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
- 5 Gamers confess the worst things they've done in The Sims
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Brixton squat flats now costing up to £3k per month show how out of control rent is in London
A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Germanwings crash: 'Andreas Lubitz planned to marry pregnant girlfriend', claims German report
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...
£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...
Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...
£150 - £190 Daily Rate: Sheridan Maine: One of London's leading water supplier...