Enterprise Inns shoots down sales of pubs
18:32
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Income net means by the pub, a measure used by corporations whose pubs are led by tenants rather managed by the company, was flat in the six months to the end of September, an improvement compared to a fall in the first half 3pc and a 8pc drag in the second half of last year.
Exlcuding costs, profit before tax at $ 175 million from ￡ 208 m ￡ year dernier.recettes decreased to 758 million to ￡ 818 million of ￡ due to the small size of the undertaking.
"To change the period of decline and start growing, we pass through a period where the growth is flat," said Ted Tuppen, Chief Executive. "I believe that it is very creditable results.?
The company plans to begin to pay a dividend again in the "medium term", although Mr. Tuppen wouldn't pull what time scale means.
Concerns about the consumer after the VAT rise in January and in the public sector employment losses mean now is not the time to "appropriate" to restart the payment to the shareholders, the company said.
But also to improve the quality of the pubs it is running, Enterprise has paid its significant net debt, debt reduction to ￡ 3 United for ￡ 3 68bn at the end of September.
Company now has 6,820 pubs and aims to sell 500 to 600 this year.
