Enterprise Inns Encouraged By Current Trading

In a trading update issued today, Enterprise Inns said its recent trading performance was “encouraging” and that the Brexit vote had not had any discernible impact on spending at its pubs.

The group revealed that like-for-like net income in its leased and tenanted business was up 1.9% in the 44 weeks to 30 July with all aspects of its strategic plan “on track”.

It said that trading performance and expansion of its managed house operations was progressing well and it expects to have in excess of 100 managed houses operational by the end of September. It also expected to continue to grow its portfolio of commercial properties to 300 by the of its financial year.

Simon Townsend, Chief Executive Officer, commented: “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. Whilst 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.”