Punch and Spirit go their separate ways

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The Independent Online

Punch Taverns and Spirit Pub Group will update the market on Thursday, for the first time as separate entities since their split earlier this summer.

Ian Dyson, the former head of debt-laden Punch and now Spirit's boss, oversaw the demerger. Analyst Panmure Gordon reduced its target price for Punch from 19p to 11p. On the same day, train operator Go-Ahead is set to report rising profits. Housebuilder Bovis will post half-year figures on Tuesday.