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

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.

Prudential > 10%

Trying 155 again.

Taken some profit here @152.

Deutsche Bank Buy 151.00 151.00 190.00 205.00 Reiterates

4 year high @160.10p

Final Results

Highlights

Ø Improving trend in like-for-like net income with growth of 0.6% in the final quarter and a decline of 2.9% for the full year
Ø EBITDA* before exceptional items £313 million (2012: £340 million) primarily reflecting impact of the disposal programme
Ø Focus on operational activities to support publican profitability with £62 million of capital investment across the estate during the year
Ø Strong operational cash generation combined with £150 million net proceeds from disposal programme has reduced net debt by £216 million to £2.5 billion (2012: £2.7 billion)
Ø Unsecured convertible bond issued, raising £97 million, reducing bank debt, net of cash, to £41 million (2012: £310 million)
Ø Like-for-like net income growth has been sustained in the first seven weeks of the current financial year

Statutory results

Ø Profit before tax and exceptional items £121 million (2012: £137 million)

Ø Adjusted earnings per share# 19.0p (2012: 20.5p)

Ø Loss after tax of £4 million (2012: profit £44 million) arising after net exceptional charges of £99 million (2012: £58 million) principally relating to property matters


CEO Succession

Chief Executive Officer, Ted Tuppen to retire and Simon Townsend appointed new
Chief Executive Officer

Enterprise Inns plc ("ETI" or "the Company") today announces that Ted Tuppen will be retiring as Chief Executive on 6th February 2014 and is expected to leave the Company on 19th May 2014. He will be succeeded by Simon Townsend, currently Chief Operating Officer.

Ted has been Chief Executive of the Company for more than twenty years, having founded the business in 1991 before its listing on the London Stock Exchange in 1995. Throughout the last two decades, ETI has led the industry in offering an attractive and affordable model for pub ownership in the UK, supporting thousands of publicans to set up and run their own pub business. Under Ted's leadership, ETI has grown into the largest operator of leased and tenanted pubs in the UK, with a portfolio that comprises some 5,500 properties valued at £4 billion.

Numis Add 147.60 170.00 170.00 Reiterates

In auction +12%.

On the up again - currently +5%.

16 Dec 13 Deutsche Bank Buy 149.90 205.00 205.00 Reiterates

Towards the top of it's trading range again and toying with 160p.

Deutsche Bank Buy 158.10 158.10 205.00 205.00 Reiterates

Numis Hold 160.20 158.00 170.00 170.00 Downgrades

Vidacos Nominees < 5%

edited!