Up 130% over the last year.
Anyone else watching this one.

Blimey - is that what they call 'block reading'! :-)

19 Dec Enterprise Inns PLC ETI Deutsche Bank Buy 0.00 97.25 135.00 135.00 Retains

Deutsche Bank AG > 3%

breakout????

Mid-caps do not feature much at either end of the Winners & Losers list but recovery stock Enterprise Inns (LON:ETI) is the best of the bunch. The pubs group is up 241% on the year.

The story here is of a company selling off pubs to reduce crippling debt and doing a much better job of managing the pubs it has left.

In the year to the end of September the company reduced net debt by £26mln to £2.7bn and while like-for-like (LFL) net income across the pubs estate was down 1.2% year-on-year, the company stressed that, where a publican has been in charge of the pub for at least a year, LFL net income was up 2.2%.

Now, if the pubs trade can just get the Chancellor of the Exchequer off its back, we might all be inclined to raise a glass to him this Christmas.

Pub giants face legal crackdown over 'greedy’ tactics

Britain's biggest pub companies have been accused of “greedy” and “exploitative” behaviour towards their tenant landlords - and face fines for “unfair” treatment of the publicans.

Business Secretary Vince Cable has declared war on pub companies who are “squeezing” their tenants through contracts that are “focused on short-term profit”.
Large companies such as Enterprise Inns and Punch Taverns, which lease their properties to tenant landlords, have been accused by campaigners of hastening the demise of Britain’s pubs by “overcharging” for drinks and rent.

Interim Manangement Statement

Highlights

· Exceptional trading conditions have impacted the first 17 weeks of the year, resulting in like-for-like net income decline for the total estate of 4.4%, or £5 million.

· Like-for-like performance is expected to improve during the remainder of the year.

· On track to deliver proceeds from asset disposals of £150 million for the full year.

· Effective debt reduction strategy continuing with total net debt expected to decline by £0.2bn to £2.5bn during the financial year.

Interim Results

Highlights

Ø EBITDA* before exceptional items £153 million (H1 2012: £168 million).
Ø Like-for-like net income in total estate down 4.2% (H1 2012: 1.6% down).
Ø Net proceeds from disposals of £54 million (H1 2012: £89 million) with an expectation of £150 million proceeds for the full year.
Ø Strong cash generation enables continued progress delivering our debt reduction strategy with net debt at £2.7 billion (H1 2012: £2.9 billion) and expected to reduce to £2.5 billion by the financial year end.

Statutory results

Ø Profit before tax and exceptional items £55 million (H1 2012: £64 million)

Ø Profit after tax £25 million (H1 2012: £53 million)

Ø Adjusted earnings per share# 8.4p (H1 2012: 9.6p)

In auction.

Trying 115p again.

Interesting sort of chart.

Deutsche Bank Buy 129.05 129.30 135.00 190.00 Reiterates

Turned out nice again! :-)

And again! :-)

Interim Management Statement

Operating performance

After a difficult first half of the year during which like-for-like net income declined by 4.2%, we have seen an improving trend in performance in the second half with like-for-like net income for the total estate down by 2.7% in the 18 weeks to 3 August 2013. Encouragingly, the first five weeks of our final quarter have seen like-for-like net income growth.

In the first half of the year our income was adversely impacted by some exceptionally poor winter weather alongside the cessation of trading of Waverley, our wines and spirits distributor. In the third quarter we have faced tough comparatives against the prior year due to the timing of Easter and the positive impact from the Euro 2012 football championship and the Queen's Diamond Jubilee celebrations.

After taking account of these unusual events we estimate that our underlying like-for-like net income in the first half was down by around 2% and has improved in the second half to date to be down by approximately 1%.

Key to sustaining our improved performance in like-for-like net income is the successful execution of our many operational activities. The rate of business failures continues to fall and we are making good progress with the roll out of new services to our publicans such as the deployment of free Wifi, the provision of improved food pricing and support and the availability of discounted Sky entertainment packages. We are also maintaining our investment in the estate including the completion of 656 exterior redecorations, many of which have been completed during June and July.

Numis Add 140.05 - 160.00 Reiterates

Deutsche Bank Buy 151.75 148.00 190.00 190.00 Reiterates

Enterprise Inns plc Convertible Bond Offering

Numis Add 139.90 145.90 - 170.00 Reiterates

Convertible Bond Offering

Enterprise Inns plc Convertible Bond Offering

Enterprise Inns plc ("ETI") announces the final terms of an offering (the "Offering") of £97 million of senior, unsecured Guaranteed Convertible Bonds due 2020 (the "Bonds"), as announced earlier today.

The Bonds will be issued and redeemed at par, will have a maturity of seven years and bear a coupon of 3.50% per annum payable quarterly in arrear. The reference share price has been set at £1.4150 (the "Reference Share Price"), being the placing price of the concurrent accelerated secondary equity placing of ordinary shares of ETI. The initial conversion price has been set at £1.9103, a premium of 35% above the Reference Share Price.

The Bonds will be issued by Enterprise Funding Limited, a wholly-owned subsidiary of ETI incorporated in Jersey (the "Issuer"), and will be guaranteed by ETI.

Settlement is expected to take place on or about 10 September 2013.