Enterprise to expand portfolio of managed pubs

By Liam Coleman contact

- Last updated on GMT

Expansion: Enterprise's Simon Townsend is targeting 250 managed sites
Expansion: Enterprise's Simon Townsend is targeting 250 managed sites

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Enterprise Inns has announced plans to increase its managed sites to 250 by the end of September following positive like-for-like growth.

The pubco said it was on target to meet future growth objectives, therefore, it would press on with its managed estate expansion.

Its latest financial results showed growth of 1.6% in the 18 weeks to 4 February 2017.

Chief executive Simon Townsend said: “We are pleased to have made a good start to the year, delivering continued like-for-like growth in our leased and tenanted business, and an encouraging performance from our commercial property and managed house businesses.

“Despite potential headwinds from legislative cost increases and the new regulatory environment, we remain confident that we are on track to deliver our expectations for the full financial year.”

Name change

Enterprise Inns also revealed that it will be changing its name to Ei Group from today (10 February) to reflect a shift in focus as it widens its operations.

“We believe the time is right to recognise that we now have strong, differentiated divisional businesses operating under a group umbrella and move forward under our new name of Ei Group PLC,” Townsend said.

Related topics: Ei Group

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