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Enterprise Inns says rate of closures slowing

Source: Reuters - Tue 29th Sep 2009

The country's second-biggest pubs company Enterprise Inns said on Tuesday the rate of pub closures across its estate had slowed and fewer of its tenants were requiring financial support.

Enterprise, which has around 7,500 leased and tenanted pubs, said the improvement was due to the sale of less viable pubs, together with a stabilisation in beer sales, improved food sales, and an easing of cost pressures on licensees.

The company said there had been no material change in its trading performance since July and Chief Executive Ted Tuppen told Reuters he was comfortable with market forecasts for full-year pretax profit in the range of 210 million and 216 million pounds.

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