Share values drop across the pub sector

Depressed pub share-prices have been hit further by a series of grim trading updates from pub operators in the past few days.

Publicly quoted companies have nearly all been affected, with Enterprise Inns, Greene King, Punch, Six Continents and Wolverhampton & Dudley all seeing their values drop.

On Monday troubled bar operator Yates issued its second profits warning in two months and Luminar, Britain's biggest nightclub business, also issued a warning - its first in seven years as a public company.

Po Na Na yesterday announced that sales had fallen marginally below expectations but would still hit full-year targets. It's shares were harshly treated, shedding 5.5p to 17p, valuing Po Na Na at just £4.9m.

On Monday morning Luminar's share price stood at 353.5p. At the market close yesterday (Tuesday, January 21) the price had fallen to 282.5p.

In the same time, Yates has dropped from 75p to 66.5p.

The bad news from these companies and the falling values has hit other companies across the sector.

In the two days of trading Enterprise Inns' share price has fallen from 582.5p to 556p.

In the same time period Greene King has lost 10p, falling from 703.5p to 693p.

Punch Taverns has lost 11.5p, down to 180p.

Six Continents has lost 16p, to 489p.

JD Wetherspoon, which last week announced a 4.2 per cent rise in like-for-like sales over Christmas, but isued a profits warning in November, fell from 179.5p to 170.5p.

Wolverhampton & Dudley Breweries, set to update the market this Friday, dropped from 615.5p to 587.5p.