Sun shines on Enterprise Inns9th August, 2013 by Andy Young
Pub landlord company Enterprise Inns is hoping the recent heatwave will help the company to reverse falling sales.
Enterprise, which leases out more than 6,000 pubs across the UK, suffered a 2.7% fall in like-for-like net income in the 18 weeks to 3 August – an improvement on a 4.2% drop over the previous six months that was blamed on severe winter weather.
It said the recent hot weather over the last five-week period had seen income grow.
In a trading statement the company said: “Whilst we are unlikely to deliver like-for-like growth for the second half in total, like-for-like growth remains our target for the final quarter.”
In the third quarter it said it had faced tough comparisons due to the timing of Easter and the positive impact from the Euro 2012 championship and Diamond Jubilee celebrations.
But the company said that taking into account these unusual events, underlying income was still down – by around 2% in the first half and by 1% to date in the second half.
It has continued to sell off pubs, with disposals of 356 sites for £127 million so far as part of the programme.