Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Enterprise's stock slumps following 16 per cent dip in profits

Wednesday 17 November 2010 01:00 GMT
Comments

Enterprise inns offered signs of more stability in its pubs estate after reporting a decline in the amount of financial aid set aside for struggling licensees.

But shares in Britain's second-largest leased and tenanted pubs operator, founded in 1991 by Ted Tuppen, still fell by 9 per cent to 99.3p as it posted a 16 per cent fall in underlying pre-tax profits of £175m for the year to 30 September.

Revenues fell 7 per cent to £758m. Enterprise, based in Solihull, West Midlands, sold 579 of its worst-performing pubs during the year, taking its total to 6,820.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in