Enterprise Inns rockets on steady revenue rises
ROBERT Walker, the chairman of Travis Perkins, was appointed chairman of Enterprise Inns yesterday as the UK’s biggest pub landlord revealed revenue increases.
Average income per pub grew one per cent on a like-for-like basis for the 18 weeks to 4 February, while the average pub upped profits by five per cent.
Beacon delivered the strongest growth, as the 110 pubs under its management upped profits almost 30 per cent.
Enterprise, which has a portfolio of 6,289 pubs, has increased the prices it charges tenants by 4.3 per cent, as next month’s Budget is expected to increase duty on alcohol sales.
Bank borrowings were reduced to £420m, down from £446m at the end of September.
Shares soared 22 per cent to 52p.